☆ Yσɠƚԋσʂ ☆ @ yogthos @lemmygrad.ml

Posts

830

Comments

998

Joined

5 yr. ago

Should check the date on that link of yours. These were copium projections that everybody now admits were way off base.

another classic

lib media is going to be pushing a lot of this type of naked propaganda now that the election cycle is under way

Unfortunately, pretty much all of principled left parties have been systematically eradicated in the west at this point. We have a lot of people who mean well, but it's doing to take a lot of effort to start building serious parties.

doubt it

😂

generally yeah I agree

The primary goal of opening up was to achieve technological parity with the west. And this worked spectacularly. China received a massive amount of tech transfer from western companies, and has now become an industrial superpower. Opening up also resulted in millions of workers being trained, students getting education at top western universities, and so on. This was absolutely the right decision from the perspective of developing the productive forces of the country.

It's also important to note that 90% of families in the country own their home giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans.

Given that vast majority of people own their housing, it's pretty clear that real estate in China isn't used for landlording and an investment vehicle the way it is in the west. The government is now intentionally winding this sector down. There aren't any bailouts happening, so this in no any way comparable to 2008 crisis in US. Assets of these companies will be nationalized and a handful of rich investors will lose money.

Furthermore, the government can simply write off its own debt because it controls the currency. Michael Hudson explains how this is going to work out here. There wouldn't be an easy way out of this in a capitalist country because capitalists wouldn't accept taking a loss, however there's a very clear out of this in China.

And of course, China is actively working on developing internal circulation economy, that's the whole point of the dual circulation policy they've been pursuing.

Meanwhile, overall Chinese economy is starting to transition towards high tech sectors, particularly in renewable energy, space, and computer production. China is also increasingly using the skills they developed building infrastructure domestically to export infrastructure production to other countries.

So, I completely disagree with the assertion that US managed to mess China up. Every economy has ups and downs, every government makes mistakes. China is no different in this regard. However, none of the mistakes the party has made to date have had any major negative impact on the overall trajectory.

The actual data seems to disagree with your assessment

The real (inflation-adjusted) incomes of the poorest half of the Chinese population increased by more than four hundred percent from 1978 to 2015, while real incomes of the poorest half of the US population actually declined during the same time period. https://www.nber.org/system/files/working_papers/w23119/w23119.pdf

From 1978 to 2000, the number of people in China living on under $1/day fell by 300 million, reversing a global trend of rising poverty that had lasted half a century (i.e. if China were excluded, the world's total poverty population would have risen) https://www.semanticscholar.org/paper/China%E2%80%99s-Economic-Growth-and-Poverty-Reduction-Angang-Linlin/c883fc7496aa1b920b05dc2546b880f54b9c77a4

From 2010 to 2019 (the most recent period for which uninterrupted data is available), the income of the poorest 20% in China increased even as a share of total income. https://data.worldbank.org/indicator/SI.DST.FRST.20?end=2019&locations=CN&start=2008

By the end of 2020, extreme poverty, defined as living on under a threshold of around $2 per day, had been eliminated in China. According to the World Bank, the Chinese government had spent $700 billion on poverty alleviation since 2014. https://www.nytimes.com/2020/12/31/world/asia/china-poverty-xi-jinping.html

https://www.worldbank.org/en/news/press-release/2022/04/01/lifting-800-million-people-out-of-poverty-new-report-looks-at-lessons-from-china-s-experience

Exactly, it's amazing how fast the mask falls off when liberals find themselves at odds with popular public opinion. All of a sudden, they start claiming that what you really need is the rule of an enlightened elite.

ha

:)

We are absolutely living through the biggest geopolitical realignment since WW2.

Same reason people keep referring to DPRK as North Korea, it's a result of decades of western propaganda. DPRK along with Cuba have been hands down the biggest targets of US propaganda because they remain as the closest analogs of USSR today. They utterly reject capitalism and don't even make an attempt to make any concessions to the west.

basically

oh thanks for finding the whole thing, seems like they're starting to panic

but see, the real problem here is that people can now find out that you're lying

I'm guessing she doesn't even understand what a monumental admission she made there