Holly Glover-China:Economic and Political Freedoms

China's Economic and Political Freedoms 

              Traditional thought originating with the Economist Adam Smith for hundreds of years has held the belief that economic freedom cannot be achieved without political freedom and as well in  which there is freedom of choice, freedom to enter markets, and strong property rights (Lawson).  

         

   Political freedom, free of civil repression and supported by the rule of laws is considered and defined by many to be the pre-requite for economic freedom. In recent years this theory has been put into question throughout the globe (Lawson)

            

                     

              Various countries and economic markets such as China which includes Hong Kong and Singapore, have records of political suppression but have shown an increase in economic freedom over the last 20 years (Bishop). Based on the 2004 annual report for economic freedom for the world rated Hong Kong as the most economically free marketplace with a score of 8.7 out of 10 (Lawson). Singapore with a track record also of civil repression had a score of 8.6 out of 10 (Lawson). The United States however considered a bastion of capitalism in comparison only had a score of 8.2 (Lawson). France, furthermore with a long history of liberty had an economic freedom rating of a mere 6.8 (Lawson). China improved its rating from 3.8 in 1980 to 5.7 in 2002 (Lawson). These ratings are based on a number of variables such as low taxation, level of government regulation, corruption, free trade, price controls, and sound economic government policy.

            This paradigm in thinking has challenged traditional thinking as researchers, political scientists, and economists in recent years have began to study the relationship between economics and the need for personal liberty ("China Leadership Pledges Expansion of Personal Freedoms") . Are both required in an interdependent relationship or can economic freedom exist without the inclusion of political freedom? Long term social planning will be impacted over time with the results of this study throughout the globe (Mishra).

           

           

      

             No where in the World has the split between economic and political freedom been more pronounced than in China. In 2013 President Xi Jinping released government draft plans for the government to undertake massive economic reforms that would have been endorsed by such staunch free enterprisers such as  President Ronald Regan (Bishop). Sweeping reforms and changes are to be divided into key economic sectors in which will include the following: reducing production, reducing bureaucratic  regulations, cutting red tape, and reducing government role in the economy (Mishra). No where mentioned in Government was political liberty as proposed in the Western Democracies. Chinese leadership did not consider Western political freedom as a requirement for economic stimulation and strong economic growth (Bishop).

            

             

        The West and liberal democracies have upheld the ideal of strong political freedom as a means to support economic prosperity. There is a belief that China with a track record of political repression will change over time with liberty ("China Leadership Pledges Expansion of Personal Freedoms")  . As more and more Chinese become prosperous and enjoy the luxuries of economic freedom, that political freedom and liberty will be inevitable  ("China Leadership Pledges Expansion of Personal Freedoms"). Many theorize China will eventually become more like Western society with civil liberties and political freedom. Is there evidence to support this thinking? There is evidence on the contrary. China is becoming integrated into the world economy and marketplace but is remaining largely undemocratic (Mishra). This poses the though provoking question on the necessity of political freedom as a means to reach economic freedom around the globe. Are both achievable? Can a Country have both true economic and political freedom. One would hope so however the trick is balancing the economic and social reforms to make a "perfect democracy", and this has still yet to be perfected.

Bishop, Billy. (May 20,2013).In China Weighing Economic and Political Freedoms. New York Times. Retrieved January 9th.2014, from http://dealbook.nytimes.com/2013/05/20/in-china-weighing-economic-and-political-freedoms/?_r=0

Lawson, A. Robert.(n.d). Economic Freedoms. The Concise Encyclopedia of Economics. Retrieved January 9th 2014, from http://www.econlib.org/library/Enc/EconomicFreedom.html\

Mishra, Pankag. ( May 19,2013). Why China's Riches Wont Bring It Freedoms. Bloomberg News. Retrieved January 9th, 2014, from http://www.bloomberg.com/news/2013-05-19/why-china-s-riches-won-t-bring-it-freedom.html

(November 16th,2013). China Leadership Pledges Expansions of Economic Freedoms. Bloomberg News. Retrieved January 9th 2013, from http://www.bloomberg.com/news/2013-11-15/china-pledges-to-ease-one-child-policy-as-party-details-reforms.html