Cowboy capitalists
HOME > PAST ISSUE > PERSPECTIVE [Premium content]May 2007
The new property law means greater security for privately-held real estate. Unless you’re a peasant, of course
In March, the Chinese government did a very strange thing for a Communist dictatorship - for the first time ever it granted legal protection to the concept of private property rights, a cornerstone of capitalism since before Adam Smith.
The new law, which elaborates on the 2004 constitutional amendment enshrining protection of personal property rights, certainly made for nice headlines in the global press, which is always looking to inform readers that China is not really Communist at ...
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