The World Significance of the Rise of Socialist Economy of China

From the viewpoint of the whole world, the event , which has world significance and which attracts more attention , is the rise of the new mode of socialism of China , rather than the failure of the old pattern of socialism symbolized by the radical changes of the former Soviet Union and Eastern Europe .This article is meant to look ahead and draw a perspective of manifestations of the rise of socialist market economy of China , its effects upon the world history and the prospects of the development of China in the 21st century.