> The claim that it's capitalism that has raised hundreds of millions of people out of poverty is a common one, but it's our technology that's advanced. The ma

> The claim that it's capitalism that has raised hundreds of millions of people out of poverty is a common one, but it's our technology that's advanced. The main factor there was economic liberalisation in south east Asia. Mainly China of course but not only. There was nothing inevitable about that, it was a political decision. The Soviet Union didn’t do it, North Korea didn’t do it, but China had Deng Xioping and he did do it. He or someone else could have easily gone a different way. My wife is Chinese and I’ve visited frequently in the last 20 years and seen the transformation for myself. My wife’s family there are among those who went from grinding poverty to a comfortable lifestyle owning several properties with 2 cars. Owning properties privately, in China, before Deng that would have been unimaginable. My wife’s sister even owns shares. It’s capitalism gone mad.