Deng Xiaoping crushed the Tiananmen Square uprising and then pivoted the economy towards "Capitalism." Chinese capitalism (leveraged based theft) is based on "relationships" between insiders; the state is concerned with face, stability, and continuity. "Chinese capitalism" can extract money and wealth but it is not concerned with a profit imperative.eltomas2003 wrote: ↑Sat Aug 13, 2022 11:03 pm
China only developed because Xi Jingping advocated for western capitalism
He came to prize loyalty more than competence and to rely more on personal ties than on ties of organization- that was said about Chiang Kai-shek the same could be said culturally today or about Xi.
If you want an understanding of street level China; take a look at ADV China
https://www.youtube.com/channel/UCwNPa8 ... uT9859GVhg
Xi Jinping has concentrated power at an unprecedented scale not seen since the cultural revolution. Face and exceptionalism looks to roll back "the great humiliation" which China experienced at the hands of the Japanese (and before that the Western Powers during the time of the Boxer Rebellion, Korea was also a humiliation, so is Taiwan). There is too much to go into here.
Xi is also moving away from "Chinese capitalism" - not that I like Chamath Palihapitiya, but he and David Sachs are not wrong.
https://www.youtube.com/watch?v=RUTYYY4RtYc
Peter Z below is not totally correct - nor is he saying anything new - but its well organized;
https://www.amazon.com/End-World-Just-B ... 006323047X