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Podcast Episode
Party-State Capitalism: China’s Communist Party and Rule by Market
Isaac Kardon sits down with Dr. Meg Rithmire to explore the Chinese Communist Party’s complex relationship with capitalism. Rithmire explains how markets have become useful tools of governance, and meanwhile have generated instability that party-state leadership abhors, seeking political control over private entrepreneurs.
Published on Jun 19, 2025
How should we understand China’s unique variety of party-state capitalism? In this episode of The World Unpacked, Isaac Kardon sits down with Dr. Meg Rithmire, a renowned scholar of political economy in China and the James E. Robison Professor at Harvard Business School, to discuss how capitalism functions in a party-state that tries to maintain “rule by market” without ceding too much control to private capital. Their discussion is based on Dr. Rithmire’s chapter in a new volume released from Carnegie called The Life of the Party: Past and Present Constraints on the Future of the Chinese Communist Party. They explore how private capitalists have been important to China’s economy since the 1950s, and how China attempts to exert control over companies to ensure that their activities serve party-state objectives, like Made in China 2025.
Notes:
- Yvonne Chiu, Isaac B. Kardon, Jason M. Kelly, “The Life of the Party: Past and Present Constraints on the Future of the Chinese Communist Party,” Carnegie Endowment for International Peace, June 9, 2025.
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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