Whither China? The Discourse on Property Rights in the Chinese Reform Context

Whither China? Until recently, this has been arguably the most challengZhiyuan Cui ing riddle confronting Western China watchers. The intellectual task required for its resolution was deemed so daunting as to forestall any sweeping generalizations. However, with the opening of the Fifteenth Congress of the Chinese Communist Party (CCP) on 12 September 1997, China's future suddenly seemed clear to Western commentators of all ideological persuasions: China was definitively moving toward capitalism, judging by Chinese president and party chief Jiang Zemin's explicit endorsement of a shareholding system as a means for reforming state-owned enterprises (SOEs). Numerous reports and news analyses portrayed the CCP's Fifteenth Congress as giving the green light to massive privatization; however, some Western leftists condemned China for surrendering to the force of capitalist globalization.1 My purpose in this paper is to offer some reasons to regard the question Whither China? as still open, even after the latest party congress. Obviously, arguing against the grain of both the mainstream and the leftist interpretations of China in a short paper is no easy task. All that can be done here is to highlight some of the themes that are most crucial for understanding China's future possibilities.