August 3, 2008

Chinese Embrace Capitalism

70%

Seven-in-ten Chinese now say that people are better off in a free market economy, even though this means some may be rich while others are poor

Broad public recognition of China’s growing pains notwithstanding, the latest Pew Global Attitudes survey found broad acceptance among the Chinese of their country’s transformation from a socialist to a capitalist society with seven-in-ten saying people are better off in a free market economy, even though this means some may be rich while others are poor. This sentiment is true across demographic groups, and even those in the low-income category believe in the benefits of the free market system. However, the social changes in Chinese society that have accompanied the transformation and growth of the economy get a somewhat mixed review. About seven-in-ten (71%) say they like the pace of modern life, but many worry about vanishing traditions — 59% believe their traditional way of life is getting lost, while just 37% say these traditions remain strong. Read More