No such thing as ‘state capitalism’ in China

Quote:

No such thing as ‘state capitalism’ in China
By Zhong Sheng (People's Daily)
15:19, April 28, 2012

Certain Western officials and scholars have repeatedly criticized China for implementing “state capitalism,” claiming that China encourages its state-owned enterprises (SOEs) to monopolize resources and stifle the growth of foreign investment. Based on what they believe to be unfair competition practices, they have called for restrictions on overseas investment by Chinese SOEs. However, their claim is totally untenable.

First, China is marching on the road of socialism with Chinese characteristics, instead of implementing “state capitalism.” The country adheres to the basic economic system with the public sector remaining dominant and diverse sectors of the economy developing side by side as it suits the country’s development level and serves the interests of the Chinese people.

The Chinese government has carried out the SOE reform, made efforts to solve the financing problems facing small and medium-sized enterprises, and encouraged and guided private investment in sectors not prohibited by laws. The country has gradually deepened various reforms, which have yielded positive results. The market economy is growing to maturity in China, where the relationship between state-owned and private companies will become more harmonious, and the people’s welfare will be further improved.

Second, China does not support domestic companies’ pursuit of oligopolistic interests, and treats foreign and domestic companies equally. More and more multinational corporations are willing to set up their regional headquarters as well as research and development centers in China because the Chinese government has long been committed to creating an open, transparent, and fair market and legal environment and to strengthening the protection of intellectual property rights. The increasing openness of the huge Chinese market has become the primary determinant of multinational corporations’ investment in the country.

In terms of foreign trade and cooperation, China does not deliberately pursue a trade surplus, and has made great efforts to increase imports, which has been unfortunately hindered by certain countries’ export controls. China has actively carried out cooperation with other countries in key areas such as nuclear power, high-speed railways, space exploration, and petrochemicals, while a number of private Chinese companies have been denied access to certain non-sensitive industries in certain “free countries” for no reason.

Criticizing China for implementing “state capitalism” and calling for restrictions on the overseas development of Chinese SOEs reflect that certain people are still reluctant to recognize the rapidly growing economic power of emerging markets and developing countries such as China.

While trying to hinder China’s development, they fail to realize that China is the main engine driving the world’s economic development, and has been contributing more than 20 percent to the world economic growth annually for quite a long time. The train of the world economy could not run fast without China. Their attempt to hinder China’s development by hyping up “state capitalism” does no one good, and is bound to fail.

Quote:

The country adheres to the basic economic system with the public sector remaining dominant and diverse sectors of the economy developing side by side as it suits the country’s development level and serves the interests of the Chinese people.

Quote:

The Chinese government has carried out the SOE reform, made efforts to solve the financing problems facing small and medium-sized enterprises, and encouraged and guided private investment in sectors not prohibited by laws. The country has gradually deepened various reforms, which have yielded positive results. The market economy is growing to maturity in China, where the relationship between state-owned and private companies will become more harmonious, and the people’s welfare will be further improved.

Quote:

Second, China does not support domestic companies’ pursuit of oligopolistic interests, and treats foreign and domestic companies equally.

Quote:

How aren't they ashamed of themselves for throwing this shit at people? Disgusting.

Quote:

Stop trying to sound smart loz. You're not very good at it.

Quote:

As far as many Westerners, and especially Americans are concerned, they have.

Quote:

This article is aimed at those people.

Quote:

It's just unfortunate that quite a few progressives swallow it as well.

Quote:

This article is aimed at those idiots

Quote:

It's not trying to reflect the truth, because the truth would damage China's relationship with the Western world and it isn't yet finished using the West to hasten its own development.

Quote:

To paraphrase what Stalin said, "The West will sell us the rope we will hang them with"

runequester wrote:

As Loz says, if China today is not capitalist, what does that make Norway or Sweden?

Quote:

they have quite a bit bigger public sectors than most other capitalist countries but that's it.

Quote:

they have quite a bit bigger public sectors than most other capitalist countries but that's it.

Quote:

China on the other hand has its entire banking system, most of its heavy industry, and a majority of its economy overall under total state-ownership

deeman1916 wrote:

Norway and Sweden are just capitalist countries which don't even claim to be socialist, but social-democratic. they have quite a bit bigger public sectors than most other capitalist countries but that's it. China on the other hand has its entire banking system, most of its heavy industry, and a majority of its economy overall under total state-ownership, a state under the control of an at least nominally Marxist-Leninist vanguard party. bit of a difference there

Loz wrote:

Yes and they also have a welfare system (and free/almost free) education and health care, which China doesn't.
Of course, no one here is claiming that these are socialist countries.

Quote:

No, they have many things most other capitalist (and "socialist") countries don't. They are probably the best place for an average proletarian in the whole world.

Quote:

There are private banks in China and there are sources which say that around 50% of its economy is in the "private sector".

Quote:

But even if everything you said here was true, that still wouldn't be that relevant to proving that China is indeed a socialist country.
Because it obviously isn't.

Quote:

uh, China does have them as much as is possible right now, and is working to expand access to more of the population

Quote:

the whole West European imperialist bloc has high standards of living even for average proletarians due to said imperialism. Scandinavia's economics mean that they have less of a wealth gap than other parts of Europe and as a result have less social problems, that's it. otherwise, Scandinavia's standard of living is by far due to imperialism

Quote:

what do you consider to be socialism then?

Quote:

"Nominally Marxist-Leninist" is a lot of comfort when you're working 60 hours a week at a Foxconn plant.