Wall Street Journal: China’s Xi Ramps Up Control of Private Sector. ‘We Have No Choice but to Follow the Party.’ 👀

  • Gay_Wrath [fae/faer]
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    edit-2
    4 years ago

    I love these articles, i get to tear their little propaganda filled seams open :)

    The government is installing more Communist Party officials inside private firms, starving some of credit

    won't someone please think of the CEOs who won't be getting credit

    and demanding executives tailor their businesses to achieve state goals.

    this sentence could be written about the USA forcing for example, covid-infected slaughterhouses to remain open so line keeps going up. But it never will be!

    The view that state planners are better at running a complex economy has gained currency this year,

    dang i wonder what made them think that, unplanned going economies great rn wym

    Mr. Xi personally intervened to block the $34 billion initial public offering of one of China’s biggest private firms, Ant Group, partly out of concerns it was too focused on its own profits

    This exact sentence could be written about bernie if you swap the nouns out, and probably has

    “For us small businesses, we have no choice but to follow the party,” says Li Jun Mr. Li recently closed down a seafood-processing plant because it couldn’t get bank loans

    won't someone please think of the little guy, you know, the ones that own seafood processing plants :sadness:

    China’s economy as a result has become less efficient. The amount of capital input needed to generate one unit of economic growth has nearly doubled since 2012

    Oh no!!!! NOT THE UNDEFINED UNITS OF ECONOMIC GROWTH BECOMING MORE EXPENSIVE! That's far more important than reducing homelessness!!!!

    Mr. Xi’s brand of state capitalism, which mixes markets with stepped-up state intervention, has survived a trade war with the U.S. and outperformed free-market economies recently, based on economic growth rates.

    :thinkin-lenin: :curious-marx: :xi:

    The party committee has directed the company to set aside more funds to help the poor even though the profits of Baowu’s listed arm declined 42% in the previous year. Eliminating poverty is a top political objective of Mr. Xi.

    How Nefarious!!!!! CHINA BAD BECAUSE IT'S MAKING COMPANIES HELP THE POOR

    “The market-reform camp is all but gone,” says an economist who advises the government. “By now, it’s pretty clear what kind of reform the top guy really wants.”

    Fucking based. Cool, i love China even more now.

    • penguin_von_doom [she/her]
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      4 years ago

      Mr. Xi’s brand of state capitalism, which mixes markets with stepped-up state intervention, has survived a trade war with the U.S. and outperformed free-market economies recently, based on economic growth rates.

      Isnt this sentence all you need to basically debunk the rest of the article.

      • Gay_Wrath [fae/faer]
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        4 years ago

        yep! Wanna see the neoliberal cope?

        https://www.reddit.com/r/neoliberal/comments/kapp47/chinas_xi_ramps_up_control_of_private_sector_we/

        • penguin_von_doom [she/her]
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          4 years ago

          Imagine if the US government jailed Elon Musk and a whole bunch of Silicon Valley executives and told them that any disobedience or free-thinking will result in them being purged from society.

          Lol, this but unironically...

        • ChairmanXi [none/use name]
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          edit-2
          4 years ago

          "This is incredibly stupid but unsurprising for Xi to commit to, and will likely backfire badly. Private businesses are the engines of economic growth and innovation. Imagine if the US government jailed Elon Musk and a whole bunch of Silicon Valley executives and told them that any disobedience or free-thinking will result in them being purged from society. I couldn't possibly imagine anything more damaging to the economy than something as insane as that.

          If China keeps that up, a whole generation of scared entrepreneurs too terrified of being ambitious, imaginative, resourceful, innovative and free-thinking will grow up leading a morbose and stagnant economy deprived of drive or motivation. Frankly in a strategic sense I welcome this greatly and hope China keeps doing this if it means the rest of the world can demonstrate why 'state capitalism' is an unbelievably stupid idea."

          Guys, Professor-Reddit(not a bit) debunked my plan, i'm not doing it anymore.

            • KarlBarx [they/them,he/him]
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              4 years ago

              This is why I'm convinced that Biden will be a boon to the communists. Imagine the economy shifting itself even more as the capitalists have to contract the social welfare programs they were forced to give us. But instead of a charismatic Obama to dull hate its decaying Biden. I mean literally the last part of gen z and gen alpha are going to grow up in the death spasm of empire. It will be far easier to be a communist than either a Neolib fuck or a fascist.

              • Sphincter_Spartan [any,comrade/them]
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                4 years ago

                Well the main issue with biden I think is that his election demonstrated that the democrats need give nothing at all to be elected, so there's no reason for them to keep tolerating any progressives in the party at all. These progressives would never be allowed to change anything, but they can be useful if they keep mainstreaming left idea that the democrats have to publicly reject. If he had lost, the democrats may have budged a little, for the sake of being elected, they won't get as much money from the rich if they're never in office after all. They would never have given much, but they might have even gone as far as an Elizabeth Warren type and tolerated some in the party who will move discussions left, out of necessity. You may be right though, thats an interesting point, definitely the only good point I've seen towards voting for biden

                • invalidusernamelol [he/him]
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                  edit-2
                  4 years ago

                  Democrats lost 14 seats this election lol. They would have lost 35 if not for socialist endorsed candidates sweeping their elections.

                  • Sphincter_Spartan [any,comrade/them]
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                    edit-2
                    4 years ago

                    Yeah, they still need progressives to an extent, but Biden being elected without even really pretending to be progressive won't be good for them. They won't allow those progressives to gain too much ground either, we've seen how fruitless it is to try to take over a bourgeois party. They'll tolerate them only as much as they need to, for the sake of remaining the "opposition" to republicans that get plenty of donations

            • shitstorm [he/him]
              ·
              4 years ago

              The same thing that's keeping it afloat right now, the CA government subsidizing Tesla.

          • shitstorm [he/him]
            ·
            4 years ago

            Imagine if the US government jailed Elon Musk and a whole bunch of Silicon Valley executives and told them that any disobedience or free-thinking will result in them being purged from society. I couldn’t possibly imagine anything more damaging to the economy than something as insane as that.

            I have said this before, but the neoliberals always default to imaginary scenarios to attack the left. I'm not talking Black book of communism, but everything bad about current situations is always a strained hypothetical situation.

        • keki_ya [none/use name]
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          4 years ago

          This will totally backfire!!! China is finished now!!!

          They've been saying this for years lmao

          • Elohim [comrade/them]
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            4 years ago

            Ah, well nevertheless...

            Is there any political group as consistently incorrect as neoliberals? Every one of their prophecies fails. When they are given free reign over an economy it is a complete disaster, Chile and the former USSR basically became a shitshow under the Chicago boys. They didn’t even face embargo or sanction

        • square [none/use name]
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          4 years ago

          I don’t know about you, but I see the writing on the wall and I don’t like the country I love, and the system I believed in, being humiliated by genocidal communists

          lol get fucked loser

        • shitstorm [he/him]
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          4 years ago

          Oh god, some of those sickos are stanning Margaret Thatcher.

          • Gay_Wrath [fae/faer]
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            4 years ago

            Xi Jinping has clearly never read Rand. If a government gets in the way of its Entrepreneurs, the engine of the world comes to a halt and everything gets worse.

        • invalidusernamelol [he/him]
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          4 years ago

          I like the guy who said "so people can stop saying China disproves neoliberalism" after posting a 2 paragraph fantasy about Elon Musk being cancelled and innovation in the world stagnating because of it.

      • CoralMarks [he/him]
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        4 years ago

        The enemy is both strong and weak at the same time.

        Where have I heard this before? :thinkin-lenin:

    • CoralMarks [he/him]
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      4 years ago

      China’s economy as a result has become less efficient. The amount of capital input needed to generate one unit of economic growth has nearly doubled since 2012

      Oh no!!! NOT THE UNDEFINED UNITS OF ECONOMIC GROWTH BECOMING MORE EXPENSIVE! That’s far more important than reducing homelessness!!!

      Isn’t that just a feature of China growing and further growth always being more expensive because it requires more or scarcer resources or more specialized forms of labor?

      Like isn’t that the case in any economy?

      • CountryRoads [fae/faer,it/its]
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        4 years ago

        The Rate of Profit doesn't have a tendency to decline, silly. That would imply that Capitalism is unsustainable and inevitably leads to crises!

      • ImperativeMandates [none/use name]
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        4 years ago

        For a large part yes, but you try in western economics to look at the variables as unconnected to the world and unconnected to consequences.

      • Elohim [comrade/them]
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        4 years ago

        It’s the tendency of the rate of profit to fall, and is a tendency in every market long term

    • late90smullbowl [they/them]
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      4 years ago

      Eliminating poverty is a top political objective of Mr. Xi.

      These damned asians acting in co-operation and achieving their political objectives. This can't be happening.

        • space_comrade [he/him]
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          4 years ago

          Um have you stupid radical idealistic commies ever heard of compromise and doing what's doable?

          No I will not explain why we can't go further than my weak compromise, it's too complicated for you dirty proles.

    • shitstorm [he/him]
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      4 years ago

      I love the graph that shows investments in firms from private equity going down. Nope, no graph on productive output.