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Just a few years ago, China was a nation of bicycles. Its 1.3 billion people suffered in abject poverty while being reflexively oppressed by their Communist rulers.
Despite its predilection for oppression, the Communist Party of China has not only retained power but has begun, with the assistance of the West, to transform China into the industrial center for the world. To facilitate this revolutionary process, China's Communist leadership has, among other things, departed from the economic madness of Karl Marx and allowed some private ownership of property. Gradually, state-run enterprises were partially privatized, permitting investors to run businesses and ...