China's Communist Party Cautiously Celebrates Its Reforms

Deng Xiaoping

From Christian Science Monitor:

Its economy has broken records, and the country is a global player – but the financial crisis could threaten stability.

China has been transformed beyond recognition since the rulingCommunist party decided 30 years ago this week to abandon Maoism, builda market economy, and dismantle the "bamboo curtain" that had isolatedthe country from most of the world. This series explores what "reformand opening" has meant to the everyday lives of six individuals.

BEIJING – So far, so good.

China's leaders have reason to be pleased with themselves as they look back this month on 30 years of "reform and opening." Their country has broken all the economic development records, Beijing today wields global influence, and – most important – they are still in power.

But after riding the tiger of rising expectations so successfully for so long, the government may have met its match in the international economic crisis.

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My Comment: I have been going to China for 20 years. China has certainly changed a lot. The next 20 to 30 years will probably be just as revolutionary. But if the economy goes kaput .... there will be blowback and negative consequences.