China’s state-led economic development model and robust industrial policy has transformed it into what an influential European think tank calls “the world’s sole manufacturing superpower”, making up 35% of global gross production – more than the 9 next largest manufacturers combined.…
China has overseen world-historic economic growth through a government-led development model, in which state-owned enterprises control the natural monopolies and “commanding heights” of the economy, state-owned banks give favorable loans to strategic industries, and the state’s robust industrial policy helps the country move up the value chain toward higher value-added forms of production.Geopolitical Economy
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Adam Tooze
5 comments:
Why all the forboding articles about China's economy? So it's maturing and not growing at 6% ever year. So what?
Maybe it's because in the neocolonial, neoliberal model that governs Western thinking, the West is supposed to be the core and the ROW the periphery as in the previous colonial model. In this model the periphery provides not only resources for the core's industrial base but also markets for its products, so the funds spent on resources return to the core as profits.
Maybe China is viewed as threatening this model by becoming "the world's factory."
Actually, the plan apparently included the provision that Western finance would take over the Chinese financial system and through this also provide ownership of the means of production, thereby returning the profits to the West. If that was the plan, it has not happened yet.
The Evergrande property development ponzi scheme went bankrupt. That's the source of the foreboding hoopla...
Chinese Premier Li Qiang on Monday ordered officials to take “forceful and effective measures” to stabilize the markets.
Oh yes, these people are hard core communists.
"stock maarket in the shitter."
We've come to equate the stock market with the economy. It's not.
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