Word: socializing
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...whole, the Communist Party has proven itself to be remarkably adaptable and open to borrowing elements from different countries and political systems. As a result it is becoming a hybrid party with elements of East Asian neo-authoritarianism, Latin American corporatism and European social democracy all grafted to Confucianist-Leninist roots. The uprising in Tiananmen and across China in 1989 and the subsequent collapse of communist systems in Europe and the Soviet Union were instructive experiences for the CCP. Many lessons were drawn, but the principal one was to remain flexible and adaptable, not dogmatic and rigid. (Read "Beijing Clamps...
...sustain it in power indefinitely? Perhaps. The CCP's sustenance to date has certainly surprised many leading China watchers. But, going forward, the major challenge to the Party will likely be its ability to deliver adequate "public goods" to the population: health care, education, environmental protection and other social services. Providing stability and ever increasing personal wealth will not be enough to guarantee the Party indefinite legitimacy - it must continuously improve the quality of life of its citizens. This is China's new revolution: the revolution of rising expectations...
...Shambaugh is professor and director of the China Policy Program at George Washington University in Washington, D.C., nonresident senior fellow at the Brookings Institution, and currently a visiting scholar at the China Academy of Social Sciences in Beijing. His latest book is China's Communist Party: Atrophy and Adaptation...
...Some historians of China think they see the telltale signs of dynastic decline: government corruption, social discontent (especially in the countryside), autocratic rulers and a militarizing state. Some contemporary China experts also voice their doubts - proclaiming the regime fragile and the political system ossified - while economists question how long the dynamic growth can continue...
...more capital and for their appetite for risk to be curtailed. But bigger issues are at stake too, ones that are more political and philosophical in nature: Should any bank be too big to fail? What should be done with financial activities that seem purely speculative and of questionable social use? How can the short-term, get-rich-quick mentality that drove so much market activity before the crash - and inflated those bonuses - be curbed? Is there a place for morality in the world of finance? (See the financial crisis after one year...