Since the fall of the Soviet Union, I was following closely events in China. Is there any chance that Socialism there will prove more successful? Can economic reform preserve the gains of Socialism while providing the dynamism of development?
I used to read anything that was written about China in the BBC and The Economist, as well as some items from China Daily and assorted other sources. For a long time the Bourgeois press simply were “voodoo like” predicting the fall of (what they saw as) the false economic development in China.
In the mid 2000’s, the Economist was full of articles sayings that, well, they must admit, China is good at commanding millions of workers to the production lines, hence its manufacturing prowess. But, as all experts at the Economist stressed, China’s financial system is totally defunct. Of course, state-employed bureaucrats couldn’t rival the sophisticated money-allocation of the top heroes of Financial Capital, whose bonuses run at the tens of millions. Then came the Credit Crunch, Sub-Prime, Lehman and Greece.
My brother was one of the first businessmen to see that the future is in China. Over the last 20 years, he lives in China and tries to do business there. In a family reunion some years ago, he was asked by another relative what he was doing in China. “I’m implementing the 11th Five-Year Plan” was the straight answer. Because that’s what good business people that only want to make money are doing in China.
As I’m stuck here in one of the most Capitalist states, working for my living for a big multinational, what I’m doing most of the time is “creating value for the share holders”. At least this is what the management is tirelessly and proudly reminding us… So, as you might see, what you’re doing is, many times, not so much dependent on your beliefs, but you must play by the rules… This is why it is so important who is setting the rules.
In a hundred ways, China’s rise is now influencing our lives and events all over the globe. For a long period I followed it coming, but now it is common knowledge. Yet this most significant development, the 1-ton gorilla in the world’s salon, is little understood. The Capitalists masters and the huge army of academic and media lackeys are in natural self-denial of their own sunset. But many Socialists are likewise in a state of denial – this is not the new world they were thinking or dreaming about. In this blog, as I see China’s rise as a big opportunity for all oppressed people and nations, I’ll add my observations to the unevitable process of coming to grip with the new world order.