Modern Socialism: Legal Regulation of Property (On the Example of China, Vietnam, North Korea)

Aim. Analysis of the influence of market mechanisms on the legal regulation of property in modern socialist states of Southeast Asia (on the example of China, Vietnam and North Korea).

Methodology. The key research methods were the method of comparative jurisprudence and formal-legal method. The analysis of the content of the current constitutions of China, Vietnam and North Korea, civil legislation on forms of ownership, land ownership, private property (China, Vietnam), personal property (North Korea), legislation on entrepreneurial activity of citizens and organizations was carried out by means of comparison.

Results. It is proved that the economies of modern socialist countries of Southeast Asia are actively developing, successfully combining planned and market mechanisms (to a large extent in China and Vietnam, to a lesser extent in North Korea), the current legislation enshrines various forms of ownership, characteristic of classical socialism, in China and Vietnam – also private property, guarantees the right of ownership of domestic and foreign citizens and organizations, the right of inheritance, the accomplishment of various transactions with property. The absence of private ownership of land, in our opinion, should be welcomed, because this approach maximally ensures the sovereignty of modern socialist states, protection (minimization) from external influence, although to some extent it may deter foreign investment in the economy.

Research implications. Theoretical and/or practical significance lies in the objective comparative-legal analysis of legal regulation of property in some modern socialist countries, the economy of which successfully combines planned and market principles. The given approach to the sustainable development of the economy, a significant reduction in the level of poverty of the population. The obtained results can be used in the process of multifaceted cooperation between Russia and China, Vietnam and North Korea.

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