On China and the “market socialism” as new socio-economic formation

Abstract

The aim of this paper is to demonstrate that the growth of the state sector in the Chinese economy, accelerating since 2009, opens conditions to conclude that the Chinese model is something that is distancing itself historically from a typical model of state capitalism and is even further from being a liberal capitalism. Faced with a range of evi-dence, we affirm that the market socialism in China can already be classified as a “New Socio-Economic Formation” (NSEF) that has its main attribute in complexity, since it im-plies that it is a formation marked by the co-existence of different modes of production. Since it is not social formation at the height of its development, the market socialism must be treated as a phenomenon governed by combinations of different modes and relations of production. Classifying and expos-ing the laws governing the development of socialist market economy will be the aim of the analysis in this work.