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Klonda56's avatar

The crux of the matter is that the US oligarchs are not interested in actual capitalism but rather in crony capitalism. In which corrupt overlords pay off politicians to NOT regulate properly, so that they rip off everyone and pretend to be engaged in capitalism.

China, ok the other hand has actually harnessed the potential value of capitalism, by ring fencing it into specific arenas and regulating it, and ensuring it’s not let loose to steal excess wealth in infrastructure and similar areas where real competition is not actually possible.

It’s not slavishly worshipping markets or pretending that markets can be implemented without a strong hand of regulation, and without a clear vision of what the public interest and benefit is, of employing market-based solutions, and equally in where the public interest lies in limiting and regulating the power of markets and capital owners.

This is why the crony capitalists of the west hate China: it lays bare their lies.

It’s also why they take such great pains to attempt to to label China as “autocratic” or “communist” and why the love to bang on about “the CCP” at every turn.

Because it’s downright embarrassing to be sitting in the US or Europe, pretending to be a liberal capitalist democracy, while China blows the lie open by actually using this abstraction called “capitalist competition” the way it should be used: as a limited-use tool, employed with extensive safeguards, rather than as a blind ideology.

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Randje's avatar

Billionaires seem unable to identify themselves as the biggest impediment to societal evolution.

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