Thoughts?
Is this imperialism by China, a country which is supposed to be left-wing? Leftists are normally anti-imperialism. Wouldn’t it be better to let Taiwan democratically decide whether they want to be part of China or not?
Thoughts?
Is this imperialism by China, a country which is supposed to be left-wing? Leftists are normally anti-imperialism. Wouldn’t it be better to let Taiwan democratically decide whether they want to be part of China or not?
It’s literally the same functional mechanics as free market capitalization EXCEPT that the state owns a part of every company. The people don’t. The state does. And only uses it for authoritarian control, which is the Chinese characteristic. China is functionally a capitalist market with state owned companies.
If China controlled the 3rd party companies in the country then maybe it could be construed as socialist but they own nothing about Apple or NVidia yet billions of dollars flow through them. China is an open market that uses subsidies to offset poor management in those companies. Basically the same thing America did to failing companies in 2008 (looking at you GM).
China has a large fully state-owned sector which tends to operate key industries. They also have outsized control over private firms because the banks doling out capital are state-owned. It’s how they can effectively direct the private sector to build EVs, chips or whatever other strategic commodity is desired, in addition to having partial ownership in large private firms. Yes Apple and NVIDIA aren’t state-owned. You can read about the state owned sector and how it affects the economy. The structure is very differrnt than the US today. It resembles somewhat FDR’s US in the 1940s but with even more state control and direction.