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[Huangfu Ping, as this essay explains, was the pen name of a writing group in Shanghai in

the early 1990s. The main writer, Zhou Ruijin, re-emerged in 2007 and 2008, still publishing

under the penname but also revealing his real name and position. Following the suppression

of the democracy movement in 1989 there was a retrenchment on reform, Party hardliners

blaming the unrest on the liberal economic reforms. They also associated the reforms with the

debilitating inflation and corruption of the times. Deng Xiaoping, the leader mainly

responsible for the brutal crackdown, had also urged that the reforms continue, but at that

time Deng had lost influence relative to some of the more conservative ³elders´ (members of

the regime¶s founding generation). The Huangfu Ping essays of 1991, written probably with

even more direct encouragement from Deng, his family, or members of his entourage than is

acknowledged here, argued that China¶s salvation lay in greater rather than lesser use of the

market. Deng had argued behind the scenes that the collapse of communism in eastern

Europe (and, later, the collapse of the Soviet Union) had nothing to do with lack of

democracy and everything to do with poor economic performance: and the market was the

means to achieve economic prosperity. The 1991 Huangfu Ping essays made the case for the

market and laid the groundwork for Deng Xiaoping¶s reassertion of his own influence during

his famous 1992 ³spring tour´ of the prosperous areas of southern China. At that point Deng

asserted that the Party had to recommit itself to reform and that if the Party leadership did

not agree, that leadership should be replaced. The spring tour was followed by a radical

assertion of the market economy and the subsequent years of spectacular economic growth.

y the middle of the first decade of the 21 st century, however, those with misgivings about

the untrammeled operation of the market once more became bolder in voicing their opinions.

While China had achieved great economic growth, it was also beset by social problems that

seemed directly related to how the market worked: corruption was a perennial problem; there

had developed vast inequalities in wealth and income, both among localities and families;

medical care and education had become unaffordable for great numbers of people; the state

provision of collective goods was lacking. . . In his later writings Zhou revisited his earlier

enthusiasm for the market. He remained convinced that the market economy was the only way

to economic growth; the social evils enumerated came not from the market itself but from the

imperfect political and social environment in which the market operated. He said that in the

past he had underestimated the need for the state to provide the necessary guarantees that

allowed the market to work as it should: fair enforcement of contracts, provision of welfare

benefits to those left behind, control over corruption (itself a consequence of too much direct

political intrusion into the market), the setting of reasonable regulations to control economic

activity, ³macroscopic´ controls over interest rates, the money supply, so forth. In the final

paragraphs of this memoir Zhou argues in effect for a state with limited functions but also a

stronger state, one with the ability to perform those functions proper to it.]

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