This morning I read the FT’s article “China tech stocks tumble after regulators step up antitrust pressure”.
An interesting phenomenon is at work.
A Communist Party in an avowedly Socialist country is regulating China’s Capitalists and China’s Billionaires.
Have I read it right? Is that what is happening? It does not fit with the usual narrative; “Capitalism for Capitalists in Capitalist Societies and Socialism for Socialists in Socialist Societies”
China is changing the narrative and almost all are missing the point. China is still run by a hard nosed Communist Party. Its aim is to build a Socialist State with Chinese characteristics. And yet it encourages capitalists to flourish and develop but – and here is the important point – subject to regulation. The Chinese have learned much about how to govern and they are shaking the world by using the Capitalists to build Socialism. The Party is in charge. The Regulators watch closely and strike down Capitalists who get above themselves. Capitalists can fill their pockets but they are subject to the overall aims of the State.
Think about it – ask yourself questions – analyse developments and the significance of what is happening in Beijing becomes clearer. The World is going through a unique period of change and most do not see it.