China is following the playbook of Japan, South Korea, Taiwan and similar countries. The all used window guidance to quickly grow targeted industries, which actually worked very well. All of them are wealthy countries today. However that dependence on how good the window guidance is. They take on a lot of debt to invest and it only works as long as the investment is actually smart. If not the debt increases and that causes massive problems down the line. So it creates a bubble and when it pops it hurts badly. After decades of growth those bubbles probably are nasty.
The PRC is Socialist and run by Marxist-Leninists, large firms and key industries are firmly in the public sector, while the private sector is largely cooperatives, sole proprietorships, and small firms. This is classically Marxist. I elaborate more on this here.
Click the link, I already answered. Large firms and key industries are in the public sector, public ownership is the principle aspect of China’s economy. It is employing a Marxist strategy of building towards full socialization and abolition of the value form.
Marxist economics. The reason it’s applicable is because China’s strategy isn’t at all in the same suit as Japan, the ROK, Taiwan, etc. China’s Socialist economy is built on public ownership of large firms and key industries, not just “window guidance,” and China isn’t racking up debt to do it.
China has a capitalist economy, not a socialist one.
It sounds like you’ve been soaking up Chinese propaganda!
You’re like those Christian Americans who truly believe that Trump is promoting “Christian values” despite being as far as you can get from Christian values.
All it takes for socialism is to just wave the flag and talk the talk, but not walk the walk, eh?
I explained in the other comment, public owership is the principle aspect of the PRCs economy. It isn’t so much “Chinese propaganda” as it is simple observation of their economic makeup.
Chinese public to Chinese billionaire: “Can I have some of our public profits?”
Chinese billionaire: “No.”
Again, saying they’re “public” and actually being publicly owned are two different things. The PRC is just lying. They can be in this “building towards socialism” phase indefinitely while they profit off the labour of the working class.
And a simple observation of their economic makeup will see things that you typically see in capitalist economies, like banks, and stock markets, and billionaires, things that are pretty explicitly the antithesis of Marxism.
China is following the playbook of Japan, South Korea, Taiwan and similar countries. The all used window guidance to quickly grow targeted industries, which actually worked very well. All of them are wealthy countries today. However that dependence on how good the window guidance is. They take on a lot of debt to invest and it only works as long as the investment is actually smart. If not the debt increases and that causes massive problems down the line. So it creates a bubble and when it pops it hurts badly. After decades of growth those bubbles probably are nasty.
What no theory does to a mf
What theory?
Political Economy, ie Marxism.
China isn’t Marxist so I’m confused wtf that has to do with anything.
The PRC is Socialist and run by Marxist-Leninists, large firms and key industries are firmly in the public sector, while the private sector is largely cooperatives, sole proprietorships, and small firms. This is classically Marxist. I elaborate more on this here.
I didn’t realize banks, financial trade, and currency were also classically Marxist.
What do the PRC do that is socialist? I’m honestly asking because I haven’t seen them do anything socialist.
Click the link, I already answered. Large firms and key industries are in the public sector, public ownership is the principle aspect of China’s economy. It is employing a Marxist strategy of building towards full socialization and abolition of the value form.
Specifically though, which part is relevant here?
Marxist economics. The reason it’s applicable is because China’s strategy isn’t at all in the same suit as Japan, the ROK, Taiwan, etc. China’s Socialist economy is built on public ownership of large firms and key industries, not just “window guidance,” and China isn’t racking up debt to do it.
China has a capitalist economy, not a socialist one.
It sounds like you’ve been soaking up Chinese propaganda!
You’re like those Christian Americans who truly believe that Trump is promoting “Christian values” despite being as far as you can get from Christian values.
All it takes for socialism is to just wave the flag and talk the talk, but not walk the walk, eh?
I explained in the other comment, public owership is the principle aspect of the PRCs economy. It isn’t so much “Chinese propaganda” as it is simple observation of their economic makeup.
Chinese public to Chinese billionaire: “Can I have some of our public profits?”
Chinese billionaire: “No.”
Again, saying they’re “public” and actually being publicly owned are two different things. The PRC is just lying. They can be in this “building towards socialism” phase indefinitely while they profit off the labour of the working class.
And a simple observation of their economic makeup will see things that you typically see in capitalist economies, like banks, and stock markets, and billionaires, things that are pretty explicitly the antithesis of Marxism.