Fundamental preposition

The book advances five fundamental and, in my view, fundamentally correct propositions. First, for all its manifest achievements. The Chinese attempt to marry a communist party-state with the market is unsustainable. Hutton does not deny the economic achievements of the past three decades. But he stresses that the result has been "not free-market capitalism but Leninist corporatism". This is not a viable new model, but an ultimately dysfunctional hybrid. The inevitable consequences include rampant corruption, an absence of globally competitive Chinese companies, chronic waste of resources, rampant environmental degradation , and soaring inequality. Above all, the monopoly over power of an ideologically bankrupt communist party is inconsistent with the pluralism of opinion, the security of property, and vibrant competition on which a dynamic economy depends. As a result, Chinese development remains parasitic on know-how and institutions developed elsewhere.