In: Economics
I. What did Deng mean when he called for a “legal democracy?” Did he favor multiple political parties with elections? He wanted China to establish a legal framework to conduct and encourage business and trustworthiness for foreign investment. (Describe what legal transformation that China was adopting? (See pages 100-103.)
Deng Xiaoping, during his political tenure, emphasized upon the need to practice democracy and helped emerge a legal system in China. He believed that there was a need to strengthen both democracy, and legal system, as they had rendered ineffective. He emphasized that nothing could be achieved without extensive democracy and a sound legal system.
The characteristics of such 'legal democracy' included forfming of civil laws, laws governing economic development and laws pertaining to factories.
In the past, elected political leaders considered themselves above law. Hence, they would form policies overnight, which would hurt businesses and people of the nation. Deng didn't support multiple political parties, he supported the legal democracy framework where political stability and continuity of policy is maintained in a one-party political system.
The trustworthiness for foreign investment was improved by establishing the legal system above political parties, and hence maintaining the peace and stability.