The Dude Abides: China in the Golden Age of Central Bankers

6+ In approaching a problem a Marxist should see the whole as well as the parts. A frog i
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cartoox
1 year ago

The first part of this is great ……the last part things didn’t seem to work out quite that way…..when i lived in Shanghai back in the years 2012 – 2015 , we thought that Xi would purge the corruption…that was the Narrative, to use your words……..it turned out, he’s just another dictator wannabe……..Communists do not know how to make money….but they love money so much, they want to take all that You have ! an anecdote for you about the early Deng years : “Deng’s first concern after beating the gang of four and consolidating his power was how to get the economy going… He turned to China’s last remaining Capitalist – Rong Yiren. Rong’s family – extremely wealthy Shanghainese businessmen in the pre-communist days, had fled in 1949 to HK, Taiwan and the US where they continued their business enterprises. Rong had stayed behind. He was the last of the major players still in China, all others being either killed or having run away. Rong made a deal with the communists – he would stay in China and run his factories, and share the profits with the communists, a deal which Mao initially agreed to. Deng asked for advice on rebuilding China. Rong’s advice ? Invite overseas Chinese businessmen from HK and Taiwan to invest in China, bring their capital, technical and management knowhow and their marketing connections to China. They would work with China in traditional Asian style, relying on family networks and mutual trust. Investors from other… Read more »

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