Now that it has been discovered that stocks don’t always go up, China now is going to bring its financial sector under full government control.
The CPC is a Marxist polity, so it’s no surprise to them: https://en.wikipedia.org/wiki/Business_cycle
Periodic crises in capitalism formed the basis of the theory of Karl Marx
For a communist country, they’ve sure been doing a lot of state capitalism for the past generation.
More like market socialism, i.e. a market economy broadly directed by the state for the benefit of regular people, including when that goes against capitalists’ interests.
Kinda similar to how the USSR functioned in its first 20 years under Lenin’s NEP.
Also, you should look up what those terms mean first. China isn’t “communist” (yet?); it’s not a stateless, classless, moneyless society. It’s socialist; the transitional stage between capitalism and communism where the state serves workers’ interests instead of capitalists’.
The Chinese state has been allowing some limited amount of capitalism, which it is slowly whittling away, and this article shows an example of that whittling. But that isn’t state capitalism.
State capitalism seems to have a variety of contradictory meanings. The Chinese state itself doesn’t run under the capitalist mode of production, because it has fiat monetary sovereignty. It has no need to extract surplus value from workers to make a profit, because it has the ability to create money out of thin air and to destroy money through taxation. This also means that it isn’t subject to the boom & bust business cycle, at least not directly: it’s affected by the (again limited and dwindling) indigenous private capitalist business cycle and by the business cycles of other capitalist countries.
Overlegislation of the financial sector will lead to financial collapse. An upper crust of obscenely wealthy bankers is essential for the proper function of the financial system and thus the economy.
Edit: /s fuck y’all are ruthless
You forgot the
/s, here, take this one.You gotta be careful people on your instance will say that kind of thing unironically
Everyone’s sarcasm detector is turned off today it seems
There are American citizens that legitimately believe you unlock a multimillion dollar bank account if you write a note at 45° in red marker on your bills. We need the /s because someone is always stupid enough to actually believe everything it seems.
💀
Underlegislation leads to a bloated, extortionate upper crust that weilds disproportionate power over those who rely on said financial system. There is a balance, and the problem you outline is the lesser of the two extremes.
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🤡
Don’t forget the infinite growing debt glitch
Oh thank China for this headline, finally, I have been waiting for it for years.
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Citation needed (that isn’t just Zenz).
Have you considered not believing propaganda from imperial core countries
The Organization for Islamic Cooperation, all muslim-majority countries — and the Global South in general — deny such western claims.
How many Uyghurs are dead because of Chinese government action? Give me a number. Doesn’t have to be concrete, just within an order of magnitude.
Genocide doesn’t only mean eradicating a people by killing them. It also means eliminating a people by eradicating their culture and history. You certainly can’t deny that the Chinese are guilty of that.
Have you ever been to Xinjiang? Claiming that Uyghur culture and history is being eradicated sounds like some sort of joke.
Did you watch Chunwan? Chunwan is the most watched televised program in the world and the pride and joy of CCTV. Every year, every single year there is a display of traditional Uyghur dance, dress, and music. This year, a part of it was filmed in Kashgar, Xinjiang.
Dilraba Dilmurat, of Uyghur descent, is recognized by many as the most popular celebrity in China and commonly performs in traditional dress with traditional music:
https://m.youtube.com/watch?v=4LqhAkiVr8Y
https://www.tiktok.com/@hello_xinjiang/video/7334365885169241376
Do you consider it genocide when Western fashion swept through the world, unseating traditional forms of dress? Do you consider it genocide when communities in North America default to English, losing their mother tongues? Do you consider it genocide when French people learn English to participate in the British economy? When Quebec forces Canadians to learn French?
No, you don’t. You regard culture as a static element rather than a dynamic, constantly evolving entity. You regard language in the same way. You consider indigenous people as though they are some hapless treehugger or casino operator rather than what they really are: people.
You’re the type of people who will write on and on about the rights of First Nations people but, when the Squamish decide to build a 10000-unit apartment complex on their land, you’ll be the first to protest it. Cultures evolve. People evolve.
Here is an alternative Piped link(s):
https://m.piped.video/watch?v=4LqhAkiVr8Y
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source; check me out at GitHub.
Eradicating their culture and history by killing them.
Can you name another genocide in history without mass killing? I can’t! Don’t you think that’s odd?
Without the mass killing it becomes absurd to call it genocide, like you’re making a technical point instead of an ethical one.
You certainly can’t deny that the Chinese are guilty of that.
I can and do deny that. As I have expounded on over a dozen times, China is not committing genocide, cultural or otherwise, but I will copypasta some of it nonetheless.
The US’s “Uyghur genocide” disinformation campaign has already been debunked several times over.
- The Xinjiang Genocide Allegations Are Unjustified
- The Uyghur Human Rights Project is a product of the National Endowment for Democracy, which is the American government’s main regime change NGO.
- Uyghur genocide allegations
- US-Funded Uyghur Activists Train as Soldiers of Empire
- A Reddit AMA Claiming To Be A Uyghur Quickly Exposes A CIA Asset Slandering China
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The blueprint of regime change operationsWe see here for example the evolution of public opinion in regards to China. In 2019, the ‘Uyghur genocide’ was broken by the media (Buzzfeed, of all outlets). In this story, we saw the machine I described up until now move in real time. Suddenly, newspapers, TV, websites were all flooded with stories about the ‘genocide’, all day, every day. People whom we’d never heard of before were brought in as experts — Adrian Zenz, to name just one; a man who does not even speak a word of Chinese.
Organizations were suddenly becoming very active and important. The World Uyghur Congress, a very serious-sounding NGO, is actually an NED Front operating out of Germany […]. From their official website, they declare themselves to be the sole legitimate representative of all Uyghurs — presumably not having asked Uyghurs in Xinjiang what they thought about that.
The WUC also has ties to the Grey Wolves, a fascist paramilitary group in Turkey, through the father of their founder, Isa Yusuf Alptekin.
Documents came out from NGOs to further legitimize the media reporting. This is how a report from the very professional-sounding China Human Rights Defenders (CHRD) came to exist. They claimed ‘up to 1.3 million’ Uyghurs were imprisoned in camps. What they didn’t say was how they got this number: they interviewed a total of 10 people from rural Xinjiang and asked them to estimate how many people might have been taken away. They then extrapolated the guesstimates they got and arrived at the 1.3 million figure.
Sanctions were enacted against China — Xinjiang cotton for example had trouble finding buyers after Western companies were pressured into boycotting it. Instead of helping fight against the purported genocide, this act actually made life more difficult for the people of Xinjiang who depend on this trade for their livelihood (as we all do depend on our skills to make a livelihood).
Any attempt China made to defend itself was met with more suspicion. They invited a UN delegation which was blocked by the US. The delegation eventually made it there, but three years later. The Arab League also visited Xinjiang and actually commended China on their policies — aimed at reducing terrorism through education and social integration, not through bombing like we tend to do in the West.
