spectrum where both the intent and the extent of state intervention in the economy vary". He then notes: "The real contest of our time is not between a state-capitalist China and a market-capitalist America, with Europe somewhere in the middle. It is a contest that goes on within all three regions as we all struggle to strike the right balance between the economic institutions that generate wealth and the political institutions that regulate and redistribute it." In the common program set up by the Chinese People's Political Consultative Conference in 1949, in effect the country's interim constitution, state capitalism meant an economic system of corporatism. It provided as follows: "Whenever necessary and possible, private capital shall be encouraged to develop in the direction of state capitalism." Analysis of the Chinese model and the socialist market economy by the economists Julan Du and Chenggang Xu finds that the contemporary economic system of the People's Republic of China represents a state capitalist system as opposed to a market socialist system. The reason for this categorization is the existence of financial markets in the Chinese economic system, which are absent in the market socialist literature and in the classic models of market socialism; and that state profits are retained by enterprises rather than being equitably distributed among the population in a basic income/social dividend or similar scheme, which are major features in the market socialist literature. They conclude that China is neither a form of market socialism nor a stable form of capitalism. Despite these claims, the Chinese government maintains that these reforms are actually the primary stage of socialism and the Chinese Communist Party remains nominally dedicated to establishing a socialist society and subsequently developing into full communism. Taiwan Some Taiwanese economists referred to Taiwan's economic model during the Kuomintang dictatorship period as party-state capitalism. During this era, Taiwan's economy had been classified as a state capitalist system influenced by its Leninist model of political control. Today, Taiwan's economy includes a number of state-owned enterprises, but the state's role in the economy has shifted from that of an entrepreneur to a minority investor in companies alongside the democratization agenda of the late 1980s. Norway According to The Economist, Norway is "embracing state capitalism", as the government of Norway, funded by the government's ownership of the country's oil reserves, has ownership stakes in many of the country's largest publicly listed companies, owning 37%