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What they don't have is rule by the extraordinarily wealthy. They have rule by the party. I guess we'll find out which one is worse.
by matthewdgreen 9mo ago
What they don't have is rule by the extraordinarily wealthy. They have rule by the party. I guess we'll find out which one is worse.
- kolbe 9mo agoFor all intents and purposes, Xi is worth far more than anyone in the west could dream of. It may not be reflected in stock certificates and bank balances, but if money is just the potential energy of power, Xi can do more than every US billionaire combined.
- matthewdgreen 9mo agoThe difference mostly shows up in policies. Nobody is saying the top leadership of the CCP isn't enriching themselves. What they're noting is that the top leadership is small enough that this enrichment doesn't (yet) necessitate tilting the entire economy towards enrichment of its elites, at the cost of harming economic growth. The key word there is yet. You see broadly different outcomes in many authoritarian countries, for example Russia. You might also argue that much of the short-term decision making we've seen from US industry lately is driven by the need to produce returns to stockholders, at the cost of long-term investment.