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Tuesday, March 02, 2004

China instituting property rights 

AP:
BEIJING - Communist China is changing its constitution to embrace the most basic tenet of capitalism, protecting private property rights for the first time since the 1949 revolution.

China's parliament is meeting in an annual session starting Friday to endorse the change, already approved by Communist Party leaders who tout privatization as a way to continue the country's economic revolution and help tens of millions of poor Chinese.

It will bring China's legal framework in line with its market-oriented ambitions by providing a constitutional guarantee for entrepreneurs, once considered the enemy of communism but now pivotal in generating jobs and wealth.
I'm not sure why this is news today... I blogged about a similar article before Christmas. I stand by my earlier comments, as there really isn't anything new to the story.
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