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Reflections on the Legal Features of the Socialist Market Economy in China |
Ignazio Castellucci() |
School of Law, University of Trento, Trento 38100, Italy |
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Abstract China’s socialist market economy is a market economy co-existing with a large public sector of the economy, affected by the State as a policymaker, a regulator and an important actor along with private ones; general interests in principle prevail over individual ones. A major role of the law is of providing the tools for administrative leadership and efficient macro-control. Legal and policy documents concur in indicating a model for the developing Chinese legal system: not as Western-style “rule of law” (r.o.l.); more and better socialist laws; effective supervision at all levels; intense macro-control over private economy; more efficient, law-abiding administration and legal institutions. The governing authorities are at different levels, according to the size/impact of each specific business, and each of them has or may have a say beyond the law, so implementing full macro- and micro-control on the market at various levels, through a substantial number of “policy checks” at appropriate junctions or in blank areas of the law. Differentiated “modes” of the law could be the results of a coordinated absorption within the socialist frame of values, mechanisms, norms, formants hailing from different sources.
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Keywords
socialist market economy
rule of law
public policy
economic law
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Corresponding Author(s):
Ignazio Castellucci,Email:ignazio.castellucci@unitn.it
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Issue Date: 05 September 2011
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