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03/26/2007

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Liyang Hou

the new property law of China is nothing more than a confirmation of the current economic environment of China which forced the government to act. even if there were no such a law, all the Chinese still did what that law speaks. nothing realy changed except this paper work. with regard to the defects within Chinese legal system, i do not think a new property law can do something. however, better than nothing.

F.E. Guerra-Pujol

Dear Prof. Becker, I would say that China's formal recognition of property rights -- even if it is a merely symbolic gesture of the de facto changes that have already occurred in China -- also shows that all legal-economic systems (whether 'capitalist' or 'socialist') rely on a mix of both private and public (state-owned) property rights. That is, there is no such thing as a pure 'capitalist' or a pure 'socialist' system but rather a continuum in which there is a mixture of both private and public property. This is implicit in Judge Posner's analysis of the new Chinese law.
-- Paco

Andrew

Although China obviously has a long way to go, this does seem like a step in the right direction. Perhaps it's better that China progresses slowly and carefully. Afterall, it is a behemoth, and no one can expect a country of that size to make quick turnabouts.

Billy Bonehead

Something that bears thought is that it was not judges, but jurys which drove the English economic explosion. A jury trial is self-government.

The common law did not have discovery. Unlike today, cases were tried and the jury made the decision. In modern times we crush the parties with the expense of discovery so they have to settle.

n.e.hat

Billy, Well... actually the jury as trier of fact was made up of locals in good standing who probably knew both the defendent and the plaintiff personally and the facts of the case before the bar. And many times went out into the community under the authority of the court to investigate both allegations and facts by themselves. That being the case, there was no need of "discovery" as we know it. ;)

John Smith

"When China awakes, the world will tremble."

http://pitruth.blogspot.com

evden eve nakliyat

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Joel Pinheiro

Let's just hope China emulates only the capitalism of Anglo-Saxon countries and the West in general, and not also their rampant interventionism, which brings about only stagnation and poverty.

n.e.hat

Joel, You don't like the likes of U.S. Marines interfering in a country to protect the property rights of company like the United Fruit Company? Beware, we may have to do that yet in China. Only time will tell. BTW, why do guys always blame the West for problems of your making? If you guys took the time to solve them yourselves; we wouldn't have to be bothered with solving them for you.

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