THE DISORDERLY EXPANSION OF CAPITAL #359 GOOD MORNING FROM LONDON In 1976 China was at a low ebb. The Cultural Revolution had come to an end + the Gang of Four had been arrested. But the spirit of the nation had been sapped as the Left Policies of the Gang had reduced China to protracted internal strife. Schools + universities were closed; students had been denied at least 5 years of education. The cupboard was bare. Living standards either fell or saw no increase. Urgently the Party, less popular with the people because of the Left control of the organs of power, needed to regroup + focus on immediate objectives. At this time Deng Hsiaoping emerged as the Leader + presided over a policy of modernisation that boosted the economy, led to China’s entry to WTO + to a position today where China will likely become the largest economic power in the world. Deng embraced the white cat + the black cat so long as they both caught the mice + created prosperity. In this way, China, embraced capitalism + socialism to achieve the much-needed improvement of living standards. It was inevitable that the more enhanced role for Capitalists and Billionaires would bring positives + negatives. The people of China have “never had it so good” + the quality of life is much improved. But Capitalists, inevitably, seek to turn economic power into political power + to challenge the leading role of the Party. This is reflected in the decline + fall of Jack Ma + in the determination of the Party to avoid the “disorderly expansion of capital”. Last Friday, the authorities arrested the former top Government official in Hangzhou, Zhou Jiangyong, It has emerged that a unit of the Alibaba-affiliated Ant Group bought two plots of land at a discount in Hangzhou after taking stakes in two mobile payment businesses owned by Zhou’s younger brother. Corruption remains the #1 enemy + China is ever alert to the need to control Capitalism and the Capitalists while allowing Capitalists, with their undoubted commercial skills, to contribute to national prosperity. #360 ON 22 FEBRUARY 2022. Hastags! , #china #chinapolitics #DailyComments Visit My Blog https://grahamperryonchina.com/

--

--

--

My understanding of China is dethatched, objective and informed unlike most other commentators who political prejudices invade their writings.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Precarious work — the challenge for workers

And I Told Them I Invented Times New Roman

Royal Tea Parties, Data Breaches and Horny Hanoi

Distanced from Humanity: Lethal Autonomous Weapons Systems and Human Rights

1. JP MORGAN. 2. NORTON ROSE FULBRIGHT #358

Episode 1 — Incompatible Socialism, Jurisdictionless Cause and To Award or Not To Award Death…

North Korea versus the Internet

THE WINTER OLYMPICS APPROACH #296

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Graham Perry

Graham Perry

My understanding of China is dethatched, objective and informed unlike most other commentators who political prejudices invade their writings.

More from Medium

Lori Smith Gives Businesses a Strong Competitive Edge Through Acu-Elligent LLC

Discovery of Mermaid — One Mermaid Seen All Around the World

Decentralization beyond Blockchains- The role of P2P ecosystem

The big picture approach to providing legal advice