chinese stimulus, page-50

In the 60s while I was a budding socialist I listened to critics of Chinese Communism who quoted Karl Marx as saying that industrialisation and the politicisation of the working class ( proletariat) was a prerequisite to a
communist revolution.

Russia did it without the proletariat stage and so did China but of course
Russia has had its 'communist' problems as per the crumbling of the Eastern Block in 1989.

Despite this China brand of Communism has prevailed albeit with a capitalist
twist on a micro level.

So called Free-Marketeers have always resented China's apparent communist
success and they have been predicting the collapse of the regime for as long as i can remember. Recently the Chinese prophets of doom have resorted to predicting housing and banking collapse and by implication a collapse of the
Comminist regime.

Given the way that China managed the GFC, this is likely wishful thinking.

So far, the USA and Europe has diverged more from free market philosophy
(less/self regulation) than has China moved from its Socialist/Communist principles.

With the growth and mobility of multinational capitalist companies, more
Regulation and quicker response/comand style economies may be necessary.
Just look at the tardy EC political antics post the GFC.

China has enormous tasks in front of it to fairly and equitably transform
its economy and standards of living from the nineteenth century to the 21st C.
China's meteoric rise in the 00s was attributable to a 60% exports and 40%
domestic proportioned economy. Most OECD countries are the reverse.
Recently China is moving to a 50/50 economy which, on the face of it,
seems reasonable for a growing/emerging economy.

We all seem to think that the Chinese regime will collapse. What if the US/
Western economy collapsed and the Chinese system prevails. In economic terms
it is not all that long since 1929 and the emergence of the Black & Blue Shirts.
At that time respectable academics and opinion leaders were advocating an
Authoritarian style of leadership but if course Hitler and the Nazi's went over the top and as the saying goes; "the rest is history".
Cheers
moorookamick