Frank Li — What is China's State Capitalism, Anyway?

From my perspective, Frank Li is the simply best analyst on China and comparison and contrast of China and America in the sense of being informed, objective, and balanced. His writing is very accessible, and he provides a lot of links to related topics. He takes the long view.

econintersect
What is China's State Capitalism, Anyway?

Frank Li | Founder and President of W.E.I. (West-East International), a Chicago-based import & export company

Sputnik International — Putin's Meeting With Russian Business to Focus on 2025 Economic Development Plan

The meeting between the representatives of Russian business with President Vladimir Putin to be held on Monday will be devoted to the discussions on the plan to jump-start the country's economy, a source familiar with the agenda of the talks told RIA Novosti on Monday.

"In a nutshell, they are going to discuss how business and the government will develop the plan of the economic growth that should reach a faster rate than the world average by 2020, as well as the medium term program until 2025,” the source told the agency. President Vladimir Putin in his address to the Federal Assembly charged the government with the task to prepare and adopt a complex plan of actions for 2017-2025 that would provide measures allowing to reach national economy growth rates outrunning world rates no later than 2019-2020....

The crisis due to the falling oil price and imposition of sanctions was a wake-up call to modernize and streamline the Russian economy.

Sputnik International
Putin's Meeting With Russian Business to Focus on 2025 Economic Development Plan

Noam Chomsky —Lecture from 1970

I think it is useful to setup as a framework for discussion four somewhat idealized positions with regard to the role of the state in an advanced industrial society. I want to call these positions 1) classical liberal, 2) libertarian socialist, 3) state socialist, 4) state capitalist and I want to consider each in turn. [00:43]

Also, I'd like to make clear my own point in advance, so that you can evaluate and judge what I am saying. I think that the libertarian socialist concepts, and by that I mean a range of thinking that extends from left-wing Marxism through anarchism, I think that these are fundamentally correct and that they are the proper and natural extension of classical liberalism into the era of advanced industrial society. In contrast, it seems to me that the ideology of state socialism, that is, what has become of Bolshevism, and of state capitalism, the modern welfare state, these of course are dominant in the industrial countries, in the industrial societies, but I believe that they are regressive and highly inadequate social theories, and that a large number of our really fundamental problems stem from a kind of incompatibility and inappropriateness of these social forms to a modern industrial society. [01:39]

Well then let me consider these four points of reference in sequence, beginning with the classical liberal point of view.

Noam Chomsky lecture from 1970 (!) -- full text transcript and link to audio lecture
(h/t JK in the comments)

"The visible hand" — state capitalism

The crisis of Western liberal capitalism has coincided with the rise of a powerful new form of state capitalism in emerging markets, says Adrian Wooldridge

Read it at The Economist
The visible hand