China’s Tryst With Right To Property

China is on the verge of guaranteeing its teeming population the right to property. This development has been described as China’s ‘next revolution’.

Beijing’s Great Hall of the People, where nearly 3,000 delegates to China’s parliament – the National People’s Congress (NPC) – had assembled this week, was a witness to this historic decision. The Chinese Communist Party decided to give individuals the same legal protection for their property as the state. The law is due to receive the NPC’s rubber stamp this month, says The Economist..

“It was to be passed a year ago, but was delayed after howls of protest from leftists, who see it as among the final of many sell-outs of the ideas of Marx, Lenin and Mao Zedong, to which the party pretends fealty.

“The party’s decision to enact the law in spite of that resistance is a great symbolic victory for economic reform and the rule of law.

“Clearer, enforceable property rights are essential if China’s fantastic 30-year boom is to continue and if the tensions it has generated are to be managed without widespread violence. Every month sees thousands of protests across China by poor farmers outraged at the expropriation of their land for piffling or no compensation.”

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