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China has been blatantly capitalist since the economic reforms of Deng Xiaoping, similar to the USSR after the 1965 economic reform. Don't fool yourself - Chin
by jhuni 15y ago
China has been blatantly capitalist since the economic reforms of Deng Xiaoping, similar to the USSR after the 1965 economic reform.
Don't fool yourself - China is capitalist. It is capitalist regardless of what its leadership claims or the extent to which it uses state mechanisms or market mechanisms.
- Tycho 15y agoIt lacks the individual/property rights that underpin true capitalism. I think we should invent a new word for it, like 'marketism' or something.
- jhuni 15y agoCapitalism comes in many forms. I am not sure any of them are "true."
- TDL 15y agoMercantilism with Chinese characteristics maybe? The Chinese economy seems much more mercantilistic to me at this point in time than anything else.
- nate_meurer 15y agoYes. Perfect description. http://www.as-coa.org/articles/2982/The_New_Mercantilism:_Chinas_Emerging_Role_in_the_Americas/ http://www.as-coa.org/articles/2982/The_New_Mercantilism:_Ch...
- zasz 15y agoChinese people generally are not allowed to own land. Most people are renters from the state. That doesn't sound very capitalist to me. http://www.economist.com/node/5660833 http://www.economist.com/node/5660833
- jhuni 15y agoChinese workers are powerless and sometimes even suicidal. That definitely sounds like capitalism to me. The capitalist exploitation of the working class comes in many forms, in China it just doesn't involve market mechanisms.