Great for China to be able to ”Disciplining the oligarchs who were principal beneficiaries of credit-fueled growth“！ As the Brexit and Trump showing, the West has also a very big problem of the oligarchs' too big role not only in the wealth holding but also in political influences. This has already impacted the basic social stability and normal democracy functioning. The late we react to this reality, the worse we'll get in this competition with China.
"China was able to contain the pandemic and recovered more rapidly than the US whereas Trump and the American administration were very inconsistent in their messages and in their policies. The US is still paying the price for the incompetence of Trump's leadership.
It's a little bit too simple to chalk up everything to systems. For example, some people say that the Chinese authoritarian system has proven more successful than the democratic system. But I would argue that there are some democracies such as South Korea or New Zealand or Germany ¿?, which responded as well or better than China. So not all authoritarian systems did better than all democratic systems.
But in this case, the American democracy did badly, because of particularly poor leadership. I don't think it's right to say that it's a test of two systems. I think it's a test of the incompetent leadership of the American political system over the past four years. I think Biden will be much more clear in his strategy, for example, on dealing with the COVID-19 pandemic."
The Chinese are wise not to go down the US path of crony capitalism. Look how financial engineers and political entrepreneurs took control of Boeing. And have more or less killed the business.
By June 1, next year, there will be more hungry children, drug addicts, suicides and executions, more homeless, poor, and imprisoned people in America than in China.
By December next year, half of the top ten most valuable corporations on earth will be Chinese SOEs.
Despite this, 99% of Western China experts and commentators will still have zero understanding of how or why China works because they're paid not to.
“The idea is for state-owned companies to get more market discipline and private enterprises to get more party discipline, the better to achieve China’s great collective mission.” They want the best of both worlds; they will get the worst of both worlds.
Conventional (read pretty much all MSM) Western accounts of the imminent fall of the Chinese model are grossly premature. Of course, anything is possible, but all these accounts clearly do not understand the incredibly complex nature of Chinese culture, business, or society at large. If one is trying to understand the climate, my advice would be to STFU, intensely study Chinese society for several years, and then possibly one might have a relevant opinion on the topic.
“The idea is for state-owned companies to get more market discipline and private enterprises to get more party discipline, the better to achieve China’s great collective mission.”
This was absolutely fascinating, thanks Adam
Great for China to be able to ”Disciplining the oligarchs who were principal beneficiaries of credit-fueled growth“！ As the Brexit and Trump showing, the West has also a very big problem of the oligarchs' too big role not only in the wealth holding but also in political influences. This has already impacted the basic social stability and normal democracy functioning. The late we react to this reality, the worse we'll get in this competition with China.
"China was able to contain the pandemic and recovered more rapidly than the US whereas Trump and the American administration were very inconsistent in their messages and in their policies. The US is still paying the price for the incompetence of Trump's leadership.
It's a little bit too simple to chalk up everything to systems. For example, some people say that the Chinese authoritarian system has proven more successful than the democratic system. But I would argue that there are some democracies such as South Korea or New Zealand or Germany ¿?, which responded as well or better than China. So not all authoritarian systems did better than all democratic systems.
But in this case, the American democracy did badly, because of particularly poor leadership. I don't think it's right to say that it's a test of two systems. I think it's a test of the incompetent leadership of the American political system over the past four years. I think Biden will be much more clear in his strategy, for example, on dealing with the COVID-19 pandemic."
Interesting interview to Joseph Nye in https://www.globaltimes.cn/content/1209912.shtml
...and pardon me, I forgot to mention....great piece. I’m glad I found this place.
The Chinese are wise not to go down the US path of crony capitalism. Look how financial engineers and political entrepreneurs took control of Boeing. And have more or less killed the business.
By June 1, next year, there will be more hungry children, drug addicts, suicides and executions, more homeless, poor, and imprisoned people in America than in China.
By December next year, half of the top ten most valuable corporations on earth will be Chinese SOEs.
Despite this, 99% of Western China experts and commentators will still have zero understanding of how or why China works because they're paid not to.
China beating the west. Trying to "isolate" China will mean isolating the West
China, imo, under Xi is increasingly a vast top down company with hegemonic ambitions. Talk about functional Sovereignty!
“The idea is for state-owned companies to get more market discipline and private enterprises to get more party discipline, the better to achieve China’s great collective mission.” They want the best of both worlds; they will get the worst of both worlds.
Great articled. Thank you.
Great article Adam. If this model works over the long term, what implications are there for the liberal democracies of the west, if any?
Conventional (read pretty much all MSM) Western accounts of the imminent fall of the Chinese model are grossly premature. Of course, anything is possible, but all these accounts clearly do not understand the incredibly complex nature of Chinese culture, business, or society at large. If one is trying to understand the climate, my advice would be to STFU, intensely study Chinese society for several years, and then possibly one might have a relevant opinion on the topic.
“The idea is for state-owned companies to get more market discipline and private enterprises to get more party discipline, the better to achieve China’s great collective mission.”
Is this idea working now in Northern Europe?