Tuesday, November 16, 2010

China's 'State Capitalism' Sparks a Global Backlash - WSJ.com

What would Marx and Engels do?…  Perhaps post-90s centralized planning is the ultimate “big data” domain.  (BTW unless otherwise noted, the WSJ.com articles I reference are freely available)

Central to China's approach are policies that champion state-owned firms and other so-called national champions, seek aggressively to obtain advanced technology, and manage its exchange rate to benefit exporters. It leverages state control of the financial system to channel low-cost capital to domestic industries—and to resource-rich foreign nations whose oil and minerals China needs to maintain rapid growth.

China's policies are partly a product of its unique status: a developing country that is also a rising superpower. Its leaders don't assume the market is preeminent. Rather, they see state power as essential to maintaining stability and growth, and thereby ensuring continued Communist Party rule.

China's 'State Capitalism' Sparks a Global Backlash - WSJ.com

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