China’s wealthiest classes have secured their recent fortunes through various means, both legal and illegal: These include (1) the privatization of public enterprises; (2) the savage exploitation of cheap labor after destroying workers rights , protections and social welfare legislation; (3) large-scale, long-term corruption of government officials; (4) the often violent state-sponsored land-grabs from towns, villages and farmers and the land transfer to private investors; (5) real estate speculation; (6) changes in state regulatory policies leading to oligopolistic control of markets; (7) large-scale tax evasion, money laundering and offshore transfers of profits and (8) state policies dictating low wage and salaries and repressing workers collective action.James Petras Website
China: Reformers and Compradors
James Petras | Professor (Emeritus) of Sociology at Binghamton University in Binghamton, New York and adjunct professor at Saint Mary's University, Halifax, Nova Scotia
Good find Tom, nice to get more confirmation the Chinese are only fleeing the country to save their own sorry corrupt asses.
ReplyDeleteAs house prices in Melbourne rocket to unimaginable levels, I look forward to meeting my 'nice' new neighbours. All the while hoping they won't be brutally running over the local school kids.
Bonus: Comprador... New word of the day... A local who acts as an agent or buyer for the imperial corporations.
I'm rooting for the reformers without getting my hopes too high.
How to beat MMT (by me):
ReplyDeletehttp://notatory.blogspot.co.uk/2015/09/the-way-to-beat-mmt-and-enforce-fiscal.html?m=1