Chinese Economics Thread

[Topazchen]

Similar things happened back in 2018. There was an article published by an insider arguing that private enterprises had finished their purposes, and it was now necessary for them to go down the dustbins of history. Roughly a week after that article was published, People's Daily had to come out and calm people's nerves. 50 days later, Xi published an article on Xinhua criticizing those calling for an end to private enterprises and market economy after hosting some of the most influential national capitalists in Zhongnanhai. Just like this time, the rebuffs by both the People's Daily and CCP top officials serve to calm the nerves after a radical leftist insider publishes something that scares the hack out of private entrepreneurs.

However, the fact that these well-connected radical leftists are allowed to publish something like that (especially the 2018 article calling for an end to private enterprises) could be a subtle warning that the CCP has the potential to become nasty should private entrepreneurs refuse to listen to the Party and demand more political power. In other words, subtly play the Maoist card (with plausible deniability) to scare those (like Jack Ma) who dares to use the power of capital to challenge the Party in the name of "freedom" and "market." That means should private entrepreneurs seek freedom at the expense of the Party and other Chinese citizens, the Maoist stick (Iron Fist of Socialism) is always there to hit them, reminding them who is in charge. Maybe this is why there is a double-standard in the censorship rules favoring leftists. Because the leftists and populists could always be mobilized to keep freedom-seeking entrepreneurs in line with the Party.

In fact, the CCP is behaving similarly to previous dynasties. No capable emperor would ever allow any private entrepreneurs to become powerful enough to establish an alternative power base outside of the Imperial system, but the emperor must rely on private capital to create job opportunities, stabilize the empire, and perform certain low-level administrative duties.

If China wants to be buried by the west once and for all, let it try those retrogresive economic experiments and giving such radical leftists a huge voice and platforms to threaten investors.

Threatening businessmen with Maiosm if the don't toe the line is akin to what happens in poor backward democracies in Africa. Tribes are threatened with violence if they don't vote a certain way and are always living in fear. No development and long term investment commitment takes place.

Extremists anywhere should never be given platforms because they can do untold damage to local businesses environment and internal relationships because people might perceive them as speaking for the authorities.

China's best bet of catching up with the west is through private companies. They just need to operate within the rules. If they step out, let them be punished through a judicial process like ANT was.

 

[Expert1324]

whats with the new youtube "educational" channel trend specifically on "Chinese economics collapse"? these videos are getting more and more frequent for some reason, with some half truths mixed with faux logic and blatant misinformation, a lot of people are eating it up. (i believe people would still eat it up with no truth at all in the video tho)

 

[Expert1324]

We may read this particular article with certain interest, yet we must realize that this media, regardless its luring name "China Digital Times" is an ANTI-Mainland China site being sponsored among others by George Soros OSF/OSI and the US NED.

The translation work is so smooth for such difficult subject, indicates it's a work done by some professional translator, so I feel much curious why I am not familiar with it at all even its name carries some weight -- imagine "China Digital Times" -- thus I dig a little. Then I realize.

About this media:

"China Digital Times" is based in Berkeley, CA, USA

"We introduce the perspectives of Chinese netizens; archive content that has been or is in danger of being censored in China; and, through translation, make these voices accessible to the world."

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View attachment 77005

CDT SPONSORS

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CDT is supported by the Counter-Power Lab out of the School of Information at the University of California, Berkeley.

CDT has also benefited from the support of UC Berkeley’s Graduate School of Journalism, Institute of East Asian Studies, Boalt School of Law, and Center for Information Technology Research in the Interest of Society (CITRIS) at the College of Engineering. Special thanks also to Jack and Dorothy Edelman, John D. and Catherine MacArthur Foundation, Open Society Institute, Internews, HIVOS International, Open Technology Fund, the Wild Thyme Fund, the National Endowment for Democracy (NED), and an anonymous donor for their generous support over the years. CDT is also grateful for the many donations from our readers.

View attachment 77006

Just take a look at what this media covers about China then one will quickly see its real standing, all the negative framing of mainland China!

wow this is a crazy good find.
BTW the argument between Li and Hu have a lot of nuances, I still don't quite understand the reason behind Hu's reply to Li? Both of them pretty much agree on the same thing.

 

[windsclouds2030]

I am confused don't we already have dozens of websites like it already.

Yes, you're right. But some are running in rather sophisticated mode. Like this article being run at the CDT, it seems quite a normal thing. Without prior knowledge (like myself, I didn't remember this media thus I'm curious what's it), one won't think much about CDT just by reading this individual item. At most one will think this is just some media with interests and focus on China!

So when in doubt, always check who RUNS the media, who OWNS the media, what topic the media cover about certain subject, in this case is China.

Even if the media does not disclose about who's the management team and the owner (incl. sponsor), we can still verify what the media cover in general to learn its position. By doing these checks, I no longer being fooled by the media, even those in cloaking mode.

 

[BlackWindMnt]

I am confused don't we already have dozens of websites like it already.

That's by design, so site 2 can quote site 1 and site 3 can quote site 2 till one of the mainstream media picks it up and distributes the news all over the globe.

 

[ChongqingHotPot92]

If China wants to be buried by the west once and for all, let it try those retrogresive economic experiments and giving such radical leftists a huge voice and platforms to threaten investors.

Threatening businessmen with Maiosm if the don't toe the line is akin to what happens in poor backward democracies in Africa. Tribes are threatened with violence if they don't vote a certain way and are always living in fear. No development and long term investment commitment takes place.

Extremists anywhere should never be given platforms because they can do untold damage to local businesses environment and internal relationships because people might perceive them as speaking for the authorities.

China's best bet of catching up with the west is through private companies. They just need to operate within the rules. If they step out, let them be punished through a judicial process like ANT was.

Totally agree! While there should indeed be tax laws to redistribute to a certain extend, there cannot and should not be mob rule. Maoism during CR is akin to using mob rule to bolster one-man rule at the expense of the country, the Party-State institutions, the military, the industry, and education system.

 

[Gatekeeper]

Asiatimes has picked this up.
George Soros, the unacceptable face of capitalism. I despice the guy ever since he took "Great" Britain sown on black Wednesday nearly thirty years ago on borrowed money. This just showed the flaws in the capitalist system. In the end, greed always trump other people's warfare.

Chinese state media label George Soros a ‘terrorist’

China’s mouthpiece Global Times has labeled Hungarian-born American billionaire George Soros a “global economic terrorist” in a tit for tat exchange playing out in dueling op-eds that underscore the rising temperature in US-China relations.

The article, published on September 4 and without citing any evidence, accused the hedge fund manager and philanthropist of providing finance to Hong Kong’s jailed newspaper owner Jimmy Lai to support the city’s anti-Beijing protests in 2019.

Soon thereafter, Soros penned an op-ed for the Wall Street Journal that said New York-based BlackRock’s recent 6.7 billion yuan (US$1 billion) mutual fund investment in China was a “tragic mistake” and would likely lose money for the asset manager’s clients. Soros wrote the BlackRock investment “imperils the national security interests of the US.”

That followed an August 30 op-ed Soros published in the Financial Times that said Chinese President Xi Jinping’s crackdown on private enterprise has been “a significant drag on the Chinese economy” and “could lead to a crash.”

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[KenC]

We may read this particular article with certain interest, yet we must realize that this media, regardless its luring name "China Digital Times" is an ANTI-Mainland China site being sponsored among others by George Soros OSF/OSI and the US NED.

The translation work is so smooth for such difficult subject, indicates it's a work done by some professional translator, so I feel much curious why I am not familiar with it at all even its name carries some weight -- imagine "China Digital Times" -- thus I dig a little. Then I realize.

The China Digital Times is anti China group, though its name might suggest something else. I would have thought many people who have been aware of that. All these Western NGOs/ think tanks that focus on China are just anti-China in nature. The reasons many of them are excited over this article is probably due the the apparent 'criticism' by Hu Xijin, and this somehow translates to split within Chinese leadership.

 

[KYli]

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[Agnus]

Yes, Xi and Co. keep minut tabs on everything that Hu Xijin says.