freediver wrote on Aug 6
th, 2022 at 8:07am:
thegreatdivide wrote on Aug 5
th, 2022 at 4:05pm:
Frank wrote on Aug 4
th, 2022 at 7:44pm:
thegreatdivide wrote on Aug 4
th, 2022 at 2:23pm:
**Late paramount leader Deng Xiaoping was the chief engineer of the 1978 reforms and introduced the concept of the socialist market economy......a crime, according to Western neoliberal ideologues who bleat about 'unfair market practices'.
Laughable bollocks.
Explain the difference between Scandinavian market economics and Chinese state-controlled socialist economics.
Scandinavian market economies institute high rates of
tax transfers between individuals operating in the capitalist free market; the China model institutes
state subsidization of individuals and companies...which Western free marketeers rail against as 'unfair market practices'.
It's bad for the people trying to compete against them in that particular industry.
So that demonstrates global trade needs different rules ie, fair trade not free trade...and a global above- poverty minimum wage.
eg Japan with it's strong culture of workers' life-long commitment to company, and lower wages, crippled the the US auto industry (and pauperized/obliterated Detroit from the 70's on).
But the gloves are off now: the prospect of loss of global hegemony to China, means the US has finally
withdrawn from any pretense of free trade.
[Today the US is accusing China of damaging the world by withdrawing from 'climate co-operation', but the US had withdrawn from climate cooperation months ago when it banned imports of Xinjiang solar panels, on false 'genocide' charges, and even earlier when it banned Huawei on trumped-up security concerns.
Quote:It's bad for most Chinese people. For everyone else, it means dirt poor Chinese people are helping to pay for their iPads and SUVs.
China subsidizes essentials for low wage workers.
So are you happy to pay double (and more) the prices for these consumer goods?