Saturday, December 17, 2016

David Stanway — Heralding Social, Financial Change, China Aims Blow At Iron Rice Bowl


This is earthshaking change for China. The leadership has to be very confident in "market socialism" to undertake it. It's like cutting Social Security and Medicare in the US, only bigger, since the "iron rice bowl" is cradle to grave.

Reuters
Heralding Social, Financial Change, China Aims Blow At Iron Rice Bowl
David Stanway

3 comments:

Bob said...

Maybe a war with Taiwan could serve to distract and ease the pain?

Matt Franko said...

More headed this way...

Ryan Harris said...

Social ties that hold people to their communities and families are strong and must be forcibly severed. Make people hungry so they will seek out better work and embrace change. Making workers more productive allows us to extract more from them. Given a pittance, the people would opt to stay and toil at producing nothing of value and extracting rent (which should be reserved as spoils for party members).