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China: Capitalism and Communism

China: Capitalism and Communism

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China’s communist leaders are promising to revolutionize the world’s second largest economy and move on from being the world’s workshop. Unlike most communist governments, China’s one-party state has survived by embracing capitalism to deliver new wealth. Chinese officials recently reported they would reach their target for annual economic growth of 7.5 percent this year despite the impact of the global slowdown. Leaders hope this recovery from its slowest period of growth since early 2009 could cement a cyclical rebound in the country.

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