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Opinion
The Editors

China’s Princelings Build the Wrong Kind of Capitalism

Over the last three decades, Communist China’s leaders have lifted more than 600 million of their citizens out of poverty -- and built one of the world’s most unequal societies.

Those two outcomes didn’t have to go hand in hand. They are the result of a conscious decision by the former paramount leader Deng Xiaoping and some of his closest associates -- the so-called Eight Immortals -- to safeguard the primacy of the Communist Party by putting their families in charge of opening up China’s economy.