China’s Private Property Law Getting closer to Approval
It’s been five years since the idea of allowing private property was brought up with to the National People’s Congress.
Six drafts later and the legislation seems it may be approved in the next full session of the NPC.
The hardline communists are afraid that private ownership would lead to ‘erosion of state control and concentrate more wealth in the hands of the few." Yep, that is likely to happen.
Others say the law "could undermine China’s socialist system, if the rights of individuals superseded state right to care for the collective good." Yep…that’s going to happen, too.
In the spirit of competitive capitalism it will also set off a flurry of fierce battles that, in theory, will benefit the consumers, who are supposed to be smart enough to know what is best for them. Nope…doesn’t always happen that way.
Still…private property… a good idea. And, if it doesn’t work, well, they can just change the law back. Who’s going to stop them?
What do you think?
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