The Chinese Government manufacture weapons to prepare for war that a certain warmonger keeps provoking. The US Government manufacture wars to sell weapons.
CPC is trying to please Chinese citizens in order to remain in power. White house is trying to please its donators (blackrock, blackstone, oligarchs) in order to stay in power.
Uni Sovyet= The state controls capital and the means of production. China 🇨🇳= state controls capital. And the private& state sector controls the means of production. United States🇺🇲= private sector controls capital and means of production.
Even as a Chinese person that grew up in China, I find your video very informative. China has problems, and it always will, but I've witnessed how Chinese people (including my parents) were lifted from poor living conditions, and how life quality improved significantly. The fact that those mega cities we see today were dirty and shabby not that long ago always amazes me. I've seen so much changes, in just a few decades. I'm only 29 this year.
The only constant in this world is that it changes every day, as long as the country keeps moving forward, it doesn't matter what the doctrine is, it's more prosperous than it was yesterday
This recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.
Let's face it, increasing stock and index fund purchases during downturns and bear markets is unnerving. Which makes it very difficult for most people, like me, to do. It's challenging to incur the risk of investing the one million dollars that I have in an S&S.
Investing in stocks can be a wise decision, especially if you have a dependable trading system that can lead to successful outcomes. Personally, I've been working with a financial advisor for about a year now. Starting with less than $200K and I'm now just $19,000 away from making half a million in profit.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same. Is there any chance you could recommend who you work with?
Finding financial advisors like “Stacy Lynn Staples” who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Have been using youtube for 17years , and this content is the first and only ever telling the audience what the Chinese governing system truely is, it is not state capitalist,. Not absolute socialist, it is called socialist in chinese characteristics, familiar name right? But Ben explained it today. Kudos to Ben. From this day, the mysterical box is opened.
and socialism with chinese characteristics means state capitalism :) While the chinese public sector represents about 25% of its gdp, the oecd average is 22% and countries like Denmark, Norway, Iraq and Bahamas have bigger public sectors than China, still nobody considers them socialist.
@@Henrike406 I would think it's because the objective of Chinese state funded businesses are different. Socialism is politics so it's about ideals. Execution rather than actual business structure. For starters, using the measurement of GDP is somewhat slanted, as when Chinese state funded businesses grow, they pay their employees more, countering that growth with increased labour spending and transferring that GDP to the private sector in wages (where it's spent on goods, just like benefits in other countries). This has a deflationary growth effect. If we look at Denmark's oil business for example, most of that profit is going directly to government and therefore they could be making the same amount as China but Denmark's "profit" would be higher, and net effect on the economy would be lower (as wages in public hands are spent more often and thus contribute to GDP again and again, like profit, giving China more growth per $ of profit). So when you say 23% you're talking about what's going back to the government that owns the business when for them that's only part of where the profits are supposed to be going.
"There's an old saying in Tennessee - I know it's in Texas, probably in Tennessee - that says, fool me once - shame on - shame on you. Fool me, we can't get fooled again!" - George W. Bush
Deng Xiaoping on ''Socialist Market Economy''. ''To uphold socialism we must eliminate poverty. Poverty is not socialism.'' -- Excerpt from a talk with the Japanese delegation on June 30, 1984
@@loveblindhate9318 In a 1986 episode of “60 Minutes,” the first major interview Deng granted to a Western broadcaster, Wallace asked: “To get rich is glorious. That declaration by Chinese leaders to their people surprises many in the capitalist world. What does that have to do with communism?” Deng’s reply: “To get rich is no sin. However, what we mean by getting rich is different from what you mean. Wealth in a socialist society belongs to the people.” Although Deng didn’t actually say “to get rich is glorious,” Wallace believes that the Chinese leader acknowledged ownership of the words by not challenging the question. “He certainly never said, ‘No, no, I never said that,’ ” Wallace says. In the interview, Deng emphasized that wealth in a socialist society meant “prosperity for the entire people” and must not lead to a situation in which “the rich get richer while the poor get poorer.”
What a spectacular exposition of Chinese socialism! It has cleared all the doubts that I was having about the real nature of the economic system there. I highly appreciate this gentleman for his enormous amount of solid and original research that should have gone into the making of this wonderful presentation!
I should forward this video to my current government. For 43 years we had a socialist government and while the country thrived the people also enjoyed a good standard of living. For the past 3 years we've had a liberal government, while the country has gone through economic reform, the people have been getting poorer and the politicians richer.
China is a capitalist country, they just leverage socialism more than most. Ben, like many people, have a false/manufactured understanding of these words.
American has little clue about China economy works, American economist seem to be sterio type..rely to much on basic capitalist and conventional systems.. American finance system only work good for them. FED system tools for manipulate reports , money making machine, interest rate speculative conundrum
China isn’t a 100% communist country, indeed, it is a mixture of communism + meritocracy + capitalism. In China, their leaders are mostly PHD or master graduates who are experts in various sectors, but in Canada for instance, their prime minister is a drama teacher.
These are Western explanations based on the narrative logic of the Cold War, but from the narrative perspective of Chinese history, this is an institutional upgrade in the transformation from agricultural civilization to industrial civilization. Many institutional designs have been passed down for thousands of years, such as the public-private partnership system.
This is an important video on China's economic structure versus North American. It is also a clear description of the USA stock market destruction of American society. I think Western Oligarchs are quite aware of the benefits of China's economy for the majority of citizens. However, they believe in wealth for the 1% with govt help; they deserve it and the majority do not. Hence China is a major threat to their supremacy; especialy as an example for the North American working Class.
chinese socialism is not copying the books. Chinese socialism is flexible whatever is favor to its people. I like the saying: chinese is a closed society but open mind. west is open society but closed mind.
I remembered 10 yrs ago, I expanded my business. Our Chinese supplier offered to finance expansion at only 4% interest per annum thru state owned bank. The only thing supplier required is to continually purchase from them. Now, our partnership has grown. This is what we called Win-Win.
@careyfreeman5056 Thanks. A very good question. My supplier's price is more expensive than others. However, among the 3 prospective suppliers that I visited in China, my supplier has the best quality because they are accredited by multi-national corporations. Most of my customers need such quality, so we are a good match. Indeed, few of my customers need cheaper and not particular about quality so I buy from others. Note that I only need to continuously purchase from my supplier to avail of such loan, though my loan was already fully paid.
@@Shadowless_Kick Exactly. Ben has done brilliant research work on China and most importantly he's been doing what a true journalist should be doing, informing people the truth and facts.
@@Faye_Liu I understand and fully appreciate that, but how does that equate to "understand China better than most Chinese"? Are you implying that most Chinese who live and work under the socialist system know nothing about it?
@@baichuanren885 I am not implying most Chinese know nothing about their own country's systems/policies and politics. Most Chinese have a good level of understanding of the fundamentals of the governmental policies on economy and other aspects through their everyday life but not so much of an in-depth understanding as detailed in Ben's videos. Ben's analysis of China is quite academical, there are a few well-known Chinese scholars/intellectuals (Ben cites them sometimes) followed by many Chinese are of course way more knowledgeable than Ben, though they either don't speak English (well) or have a platform in the West to spread their knowledge plus they will usually be labelled and dismissed as government mouthpieces. Even Ben gets that a lot. Plus most Chinese are quite apolitical and not so hung up on a particular political ideology, they focus most their time on their practical life rather than studying economics and politics.
In a 1986 episode of “60 Minutes,” the first major interview Deng granted to a Western broadcaster, Wallace asked: “To get rich is glorious. That declaration by Chinese leaders to their people surprises many in the capitalist world. What does that have to do with communism?” Deng’s reply: “To get rich is no sin. However, what we mean by getting rich is different from what you mean. Wealth in a socialist society belongs to the people.” Although Deng didn’t actually say “to get rich is glorious,” Wallace believes that the Chinese leader acknowledged ownership of the words by not challenging the question. “He certainly never said, ‘No, no, I never said that,’ ” Wallace says. In the interview, Deng emphasized that wealth in a socialist society meant “prosperity for the entire people” and must not lead to a situation in which “the rich get richer while the poor get poorer.”
I also used to think that China is a dictatorship, until I realised they have one of the most merit based political system in the world, its real results that earn you a promotion in the party not popularity
The leaders of China all started from the grassroots level, having lived in rural areas, managed townships, served as mayors and provincial governors, and then gradually moved up to manage the country.😊
This is also a way to mislabel them. They are still Marxist first, because the party do believe in the basic ideas of Marxist-Leninism. The Chinese Characteristics are there to adapt ML policies to the Chinese people.
@@gelinrefira It is just anti-communist propaganda to make people think communism is just non-market and Soviet style command economy lul. And even the Soviet also had market too.
Well America is a 2party system and not a democracy it's hegemony behaviour that is creating the down fall of every Empire from the Vikings to the Roman's British Empire and every other who tried to rob the people of their Dignity and resources because God will let no human beings be above God. They will always pay the price of destruction like Sodom, and his followers turn into saltpilliars.
Well, not to use facism to preserve capitalism, more to use any means necessary to preserve capitalism, and facists happen to be the ones with the fewest hang-ups about doing the dirty work, liberals seem to be a close second where they just need an excuse.
Never underestimate the power of central planning in a country as large and as diverse as China. The country would not achieve such high successes without the central government's mandate on the development of high-speed railway network all over China, as well as steel making or agriculture or food self-sufficiency or oil and gas explorations or the defense industry and even space explorations. All those important projects must be implemented and supported by the government -- not by entrepreneurs in the private sector due to their limited resources and due to their demands for short-term recoups of large investments like what happen in Western capitalism. Market reforms through a high degree of relaxation of rules and regulations infused with a mix of capitalistic rewards were what gave rise to the many success stories in the Chinese nation. We all called it "socialism with Chinese characteristics." And this type of socialist ideals gave birth of an explosion of innovations and the need to achieve success by the private sector of the economy. I call that the economic miracle of China and I do not discount the role of the central government in all these.
The PRC is hardly the only country where central government played a large role in national transportation systems and so forth. In the USA, for example, rail systems were emphasized along the densely-populated Atlantic corridor, with highways and airways elsewhere. Mostly federal money and guidance. As for space exploration (and aviation), waffling by various PRC governments delayed progress to the point that they are decades behind where they could have been with steady support. So a mixed bag regarding CCP involvement in various critical areas.
@@DivinaAncelet-i7p That's been their party line for... well decades. Success is just around the corner. "We can build space shuttles!" proclaimed their head space guy in 1981, but then it was another twenty years before they even orbited their first simple capsule. Other priorities have also shifted as various people have come and gone (or been forcibly removed from the party meeting by a henchman on each arm ;) Time is what these 1.5 billion people no longer have. The expression goes "Japan got rich before it got old. China will get old before it gets rich." That's started to happen even faster than economists had earlier predicted, with now roughly 50/50 bets on whether the PRC economy will at least temporarily pass the USA before falling back in a long demographic-based decline, or never even gets there. Xi's economic missteps are accumulating at bad time relative to his country's demographics.
@@DivinaAncelet-i7p Transportation infrastructure has been one of the bright spots, helped by the fact that the PRC is able to complete HSR projects for between two-thirds and one-third of the costs elsewhere. Partly from economies of scale, and partly from lower labor costs.
Outstanding video!!!! Excellent facts and well documented!! I honestly love the way China established their economy and made incredibly effective!! I think more countries (including U.S.) needs to study the Chinese system honestly and use it as a model! Their People are far better off than most Americans, that is for sure!!!
Thank you, Mr. Norton. It's always a joy listening to you. Clear, factual, easy to understand, and above all, your views are from a unique angle with lots of wisdom.
Uni Sovyet= The state controls capital and the means of production. China 🇨🇳= state controls capital. And the private& state sector controls the means of production. United States🇺🇲= private sector controls capital and means of production.
Unfortunately the policy makers are cold War dinosaurs Indoctrination into believing communist evil Capitalism good They can't comprehend the middle path
Very impressive video. I don't understand why so many people called it a propaganda. The video has just talked about the stock market in china but nothing about the superiority of socialism.For me, It surely provide a brand new perspective of the differenece between China and US in the stock market. Either one is just a method to regulate the economy.
China's "socialism with Chinese characteristics" means the ultimate goal remains NON-negotiable: which is to ensure EVERYONE should not have to worry about survival (where to spend the night, when will they get their next meal, etc.) and, in order to achieve that, the government should not restrict themselves to policies & methods associated with a socialist regime. In short, it spells out their mission (goal) & their methods (be flexible & adaptive.) That is why despite its increasing number of rich people, it ALSO managed to pluck hundreds of millions from poverty. That is also why despite its rise from an agrarian society to an industrial powerhouse, its FARMERS (no big range owners like in the U.S.) enjoy financial security instead of being exploited. People in countries that practice various forms of 'democracies,' such as Argentina, the Philippines, etc., should ask themselves: Why do their rich get richer while the poor continue to be poor? Why are their countries - despite being "allies" to the West for so long - seem forever to be still 'developing' with no end in sight? Is there something wrong with their politicians who just mimic or follow what those developed nations 'advised' them to do??
Yall full of it. Capitalism and industrialization also managed to get millions out of property as well. In the end it’s capitalism that did it. And im no capitalist. I like china growth but I prefer socialist democracies far far better as they do the same thing
@@TopagendadollaCapitalism has killed billions lmfao. Fascism being the highest stage of capitalism. And what "socialist democracies?" I assume your refering to Nordic countries which are Social Democracies which are explicitely Capitalist, welfares states that are subsidized off the exploitation of the global south
@marcosburgos8415 Well-said. Capitalism, as practiced within capitalist democracies such as the U.S. killed far way more people worldwide than any number that was said to have been racked up by communism & the Soviet Union. Moreover, what is always left out of the narration on how Industrialisation & Capitalism assisted in poverty alleviation was it was basically through state intervention via laws, policies like taxes, minimum wages, and programs directed towards education & housing that any societal gain came about. The capitalists, if left to their devices only care about maximising profits from production, preferably to cut labor costs to that end. Capitalism in its essence is neofeudalism.
Watching these videos and realizing that China has achieved or is close to achieving all its goals. China is amazing! I'm a lucky expat to be living in China since 2013...the year Xi came into leadership. I've literally watched China change before my eyes!
Ben Norton, you must be the one of the most analytical journalists there is in the West. Thank you a lot for all of the work and research you do! I wouldn’t be able to do all the research in this depth all by myself, so I am so grateful for everything you do and presenting it so elegantly as well 🙏
Great job, Ben. I like how succinctly Radhika Desai explains the difference between capitalism and socialism: in capitalist systems the government answers to the capitalists, but in socialist systems capitalists answer to the government. One of wisest things that both China and Russia has done is to reestablish the primacy of the state over the billionaires/oligarchs and their selfish interests. As a citizen of the US, I see that my own government is subservient to the selfish whims of the donor class that supersede the needs of the great mass of the average US citizen, and I see the wisdom of what Russia and China have both done.
Russia? Come on, with all due respect, it is a country where oligarchs and powerful departments are inextricably linked. It only looks like the government is restricting the capitalists on the surface. It is a country that is terminally ill.
Thanks for the video and the information. I can understand the Chinese model much better now and see how it differs from the capitalist system. A government run company or industry is often criticized in the West as being inefficient and wasteful; these critics say that there's no incentive for anyone to do anything because, in order for there to be an incentive, there has to be some kind of "private"/personal gain and payoff for doing more, achieving more, etc. Although there is evidence to support what these critics say, there is also plenty of evidence to support that the capitalism of the West is extremely wasteful (many times deliberately to keep prices high); the capitalism of the West often does things that are against the interests of a country's citizens and national interests. The goal of this system is not to improve life for its citizens or the country but to make a quick and high return on investment. Once again: investment for the "common good" vs investment for "the good of a few". And forget the "Reaganomics" of the '80s that tried to sell us the idea of a "trickle-down" effect. That proved to be a farce. Please keep the discussion going. The capitalism of post 1960s Western Democracies doesn't work and the only reason why it's survived until now is because it's been feeding off the global south which has now woken up.
I feel like the West loves to tout that their government doesn't interfere with the market. But it's just an excuse for the government to not do anything for the people (or only do stuff for the richest of the rich)!! But what is the government for if not to serve the people!!
This video is worth its weight in gold. Its like an entire PHD of research put into it. Absolutely phenomenal work by Ben Norton. I am more than happy to have been contributing a small amount to his cause every month.
This absolutely true! Capitalism in private hands exist only for profit making. we saw and experienced it (and still is) here in australia when the Australian political,leadership (both parties), decided to follow Ronald Reagan's "Reaganomics" and privatized out banks, power and telephone lines, selling what has been PUBLICLY owned utilities back in the 1980s. Before then, Australians were enjoying the cheapest power bills but steadily over time, the privately owned utilities began to call in their investments and increased prices. It has reached the point today when families are deciding whether to miss out in having a meal in order to pay their power bills or shiver in the freezing cold of winter. The power companies don't give a hoot but continue to make excuses why they have to increase prices and the government has absolutely no clue as to how to fix the problem when the public is screaming at them (except hand out a few dollars here and there to try to mitigate the sufferings of the people). After all, the government has already taken the money they got paid from selling off the utilities that once belonged to he people and have nothing left to buy those utilities back. Besides that, no political party in democracies is willing to ever, ever admit that they did wrong and made a huge monumental mistake in copying a non-economist American president who was a "B-grade" Hollywood actor (but he sure fooled them all in the end).
@@hermsflerms2373996 is only for tech workers and the govt wants too get rid of it but the capitalists don’t So if it wasn’t for the cpc china would be far worse
@@hermsflerms2373 They work hard for a better future, not to make the 1% richer. And the precise reason for economic hardship right now is the U.S. trying to stop them. So, more power to the Chinese hard-working poeple, they will make the world a better place and end the U.S. hegemonic rule.
@@baichuanren885 Nah even Chinese workers complain about the insane work culture and how the bosses squeeze them more than western ones. There was a huge debacle with a coffee chain 2 weeks ago where there were multiple instances of a worker beating up customers largely because they are made to work solo for 12hr shifts. East Asians take neo-liberalism to hardcore territory. But yes, it's 1 reason why they've all caught up really quickly.
Kim Iverson and her recent guests disagree because to her and her guests, communism is a brand without a definition... So sick of lazy/disingenuous takes. Thanks Ben! I learn a ton from these, and from Radhika and Michael as well.
I think Kim was brought up to be bitter about losing the Vietnam War to communists because her parents had to flee the country. That's my theory anyway lol
She is more tolerable than 99% of the so-called geopolitical reporters. She lacks comprehensive understanding of Chinese systems and communism, so she cannot offer meaningful rebuttals to these neocon/neolib think tankers.
China has exceptional hybrid system that America don't and want to understand and say the truth that China has a great, powerful, exceptional hybrid,smart system whose are goals are to allow market concepts while still working for the betterment for its people!!!!
It is called social democracy without the democracy part, whith bigger mega corps, more government surveillance, firewall to "protect" you from the evil west, less workers right.
I guarantee you that nearly no one in the west understands China, I am not exaggerating. China's economic model can trace back to 156BC, early Han dynasty. At that period officials decided what business should government do and what business should private entity do. China is just returned to it's own tradition when she get the Chance in 1978(before there is no chance to do it). Today is just a super plus new version.
But ofc China didn't want return to emperor like government in the past, the transition from inheritance can lead to conflict and power struggle in between the government. Where I can find about detail about meritocracy and how China treat the retired government? What system they can manage overambitious person keep in check??
Look man, politically I'm probably more of a Chinese nationalist than a socialist. But this is just revisionist ahistorical nonsense lol. China isn't the only nation with history of government regulating private entity and you just can't pretend that the current Chinese government has nothing to do with Marxism.
In the War to Resist US Aggression and Aid Korea, the Chinese People's Volunteers fought against the coalition forces of 17 countries, including the United States. These countries include: The United States has deployed 480000 troops and suffered losses of over 162000. Britain: deployed 6000 troops, but did not disclose casualties due to heavy losses. France: deployed a battalion of troops, suffered three defeats in three battles, and dared not fight again. Türkiye: 5455 troops were deployed and 3200 people were lost. Belgium: deployed 900 troops and lost over 400. South Korea: deployed 590000 troops, resulting in a loss of approximately 1 million. Canada: deployed 6100 troops and suffered losses of over 1500. Greece: deployed 1263 troops and suffered losses of over 920. Luxembourg: 44 troops were deployed and 15 were lost. South Africa: deployed 826 troops and lost 115. New Zealand: deployed 1389 troops without face-to-face combat, resulting in 20 deaths. Thailand: deployed 1294 troops and suffered losses of over 1200. Philippines: deployed 7000 troops and suffered 466 losses. Australia: deployed 1700 troops and suffered losses of over 1640. Colombia: deployed 1100 troops and lost 619. Ethiopia: deployed 1271 troops and suffered losses of over 650. Netherlands: deployed 3972 troops and suffered losses of over 760.
Such an excellent analysis and informative speech that I have to watch twice or more to learn and absorb all the details 😊. Thanks Ben for your continuous hard work and sterling efforts on explaining how the CPC practises and materialises Common Prosperity to its own people.
Not sure about prosperity. Maybe initially. Not sustainable, because capitalist “profit “ factor. It stops there. So super profit drenched industries keep going hysterically as it is the end. Keep gaining because THEY CAN. No fail breeds greed. Now from greed comes a network of “diversification” - greed for more profit, power, delusion of universal godly powers, owning individual lives by the millions, billions, caprice, temperaments, excess psychosis, endless bottomless “opportunities”. That’s why human factor is critical. N on humanity in capitalism - pure material ideology.
China's gov't has always been prioritizing economic growth for decades which resulted in poverty reduction and prosperity. So yeah growth (which leads to profit) is the blueprint for prosperity for the average person. De-growth would just send the Chinese back to the 70s.
How many members do all the political parties have in your country? In Germany it's 2%. As far as I know it's 5% in China. Swiss is the only country with more democracy. There the elected parties have only limited power, since people can direct policy by referendums. China ist the second most democratic country by this measure.
@@masukomimedia, George Soros put $2M into financing the student cause, the CIA and MI6 using Hong Kong mafia extracted the student leaders to the west. All document in Western sources. M
George Soros donated $1m to his China Fund I 1986 backing the T.Square students, Ref Wasting Post 7th August 1989. Operation Yellowbird, CIA MI6, extracted the student leaders from China.
Most impressed with the unbiased report of China’s policies and history! Well done!! Let the truth be told and publicize to the world! God Bless you. Ben Norton !👏🏻👏🏻👏🏻
Very good analysis. In fact, the Chinese called it capitalism in a special Chinese way. Deng said no matter it’s a black or white cat as long as it catches a mice in a legal way is a good cat . Basically, it’s a hybrid system. As Mao said, the CCP party key mission “is to serving the People”!
Ben, you are truly a Chinese expert, you understand China so well and as a Chinese I have learned so much from your Channel about my own country, as someone lived in Europe for 10 years I am truly disappointed about Western politicians and the way they are holding against China, so hypocritical and biased to it’s most and I am so glad that China and Russia are facilitating a transition towards a multipolar world which dominated by multiple voices rather than unipolar dominated by USA and its allies, that’s why they are panicking 😊
The key is to pick the different good ideas and adapt, not being stuck in ideological dead-ends. China understood that. The USSR too but made major mistakes trying to transition and got tricked by Uncle Sam.
Jack Ma at 1st appeared like a "patriotic" trying to help the poor with his Alibaba (just like many Chinese traitor-aspirants). Who would had known in the earliest time, Softbank of Japan was the major shareholder of Alibaba, i.e. Jack's master. When Alibaba became successful, he started revealing his face, working towards his master's ill-strategy to plunder and trap the Chinese and his own nation. That's when Jack became so famous in the West, even in the White House. Jack was so arrogant then. He wanted ANT to be the Chinese bank without even complying with the China's banking rules. He "escaped to" and under "asylum in" JAPAN after his failed mutiny. This was a typical Chinese traitor-aspirant story. There are many awaiting for their opportunity to reveal their true face. Those very successful and tested with times, stay and serve the Chinese ppl at home, my respect for them. Surprisingly these great minds are foreign educated (young generation of) Chinese.
That was an exceptionally clear description of the difference between the American approach to wealth and growth and China's approach. It doesn't take much reflection to understand which model works better for everyone in the society. The answer, unsurprisingly, is not the United States.
In a Capitalist society, EVERYONE with a business wants to be an instant billionaire (used to be millionaire but we have to account for inflation) overnight, making money from the public in which they operate.
@@George-k6o9t You forgot to add ;- making money/profit from the public in which they operate while not giving a damn about how they get that profit by. In a sense, may the fattest rat wins. That's how unrestricted, unsupervised capitalism works.
Arguably China is employing techniques developed during the capitalist-industrial revoution in the service of creating capital where as the west is more interested in reverting to the few owning less of a shrinking pot... The west model has been tried [feudalism-impiralism] and leads to distaster.
@@George-k6o9t Arguably these "everyone" you refer to are reactionary fedalists and cant be thought of as capitalists in the former defintion of captialism.
This is a comprehensively informative, inspiring & accurate commentary of yours on PRC's system of economy. It is amazing that as an US educated American you understand China so much. Thanks, Ben.
Although China's per capita GDP was as low as Sudan in the late 1970s, but due to socialism in equitable resource distribution, the Chinese people were far healthier, better educated and had better infrastructure than Sudan and India. This is comparable to Cuba. Cubans are very poor in GDP terms, but Cubans are most healthy and well educated in the Western hemisphere. These conditions in the late 1970s lay the foundation that allowed China to become one of the most competitive places for foreign direct investment for manufacturing.
You know, it's very interesting and accurate video. I've never seen such an objective approach in English language youtube to China's economy issue. Good job, keep going
@@user-zu5do6ri6r If you are using Foxtel as an example, the company operating in China is a TAIWANESE company, owned by TAIWANESE shareholders contracted to producing Apple iPhones for Apple. The hinese workers were exploited by the TAIWANESE.
What all of the various Marxist revolutions of the 20th century proved is that you can't skip steps. You can't skip over capitalism and go right from feudalism, and a mostly subsistence peasantry to a socialist society without going through a capitalist phase first. And if those 20th century revolutionary Marxists has read Marx, they'd know that. Capitalism makes socialism possible, due to capitalism's natural tendency toward overproduction. It's only through the surpluses of capitalist production that the conditions necessary for the emergence of socialism are possible. So, of course China is capitalist (albiet a highly state directed form of capitalism). They have to be, because they want to be a socialist society someday and you can't get to socialism without going through capitalism.
Thanks so much for covering this topic. It’s something I’ve wondered about and not properly understood. Keep up the great work, you fill a valuable space in the media and knowledge landscape.
The CPC doesn't think it is doing a good job. It KNOWS it is doing a good job and the Global Majority can see that. But the CPC also knows it can do an evening better job.
Greater China System. China has a multiple perspective vision. China has a multiple intellectual perspective. China has a broader understanding of government and business systems. China selects, learns and implements the best of every system. China’s Asian philosophy focuses on managing and complementing the needs of society, I.e., balance and harmony to the environment.
Проблема большинства граждан стран Запада, что они не понимают концепции социализма и коммунизма в целом, потому что за время холодной войны с СССР они занимались только дискредитацией этих политических систем. К сожалению, из-за распада СССР развитие этих систем остановилось, точнее, Китай, конечно, развивает ее, но, как обычно, делает это довольно закрыто. Но вот в чем основная проблема: любая система без конкуренции со стороны, без сдержек и противовесов перестает развиваться и скатывается в свои крайние формы. После распада СССР США получило монопольное положение, и такое же монопольное положение получил капитализм, и то, что мы сейчас наблюдаем, это и есть его крайняя форма. Суть крайней формы капитализма находится в одном простом принципе: деньги делают деньги, проблема как раз в том, что чем больше у вас денег, тем быстрее вы их зарабатываете, но так как деньги в конкретный момент времени ресурс конечный, то если у кого-то прибыло, значит, у кого-то убыло, и растет финансовое неравенство, в итоге мы и видим, как первая десятка списка Форбс владеет 50% всех активов мира, и даже внутри США 10% населения владеет 90% финансовых активов. И это не изменится просто потому, что такая система неравенства растит финансовые монополии. Что же касается социализма, то это система запроса на социальную справедливость и, как следствие, уравнивания возможностей. Более того, по сути, это переходная система к тому самому коммунизму, основой которого является: с каждого по возможности, каждому по потребности. На всякий случай, я не являюсь коммунистом, и утопичность этой идеи, на мой взгляд, является суть человека, который довольно эгоистичен, и эта система неплохая, просто не достижима в обозримом будущем, и пока не поменяется социальное восприятие людей. Но я не об этом, а о том, что большинство граждан Запада не понимают, что социализм не запрещает свободного рынка и «демократию», его суть именно в регулировании равенства возможностей и распределения благ. И то, что в коммунистическом Китае есть частный бизнес и свободный рынок, не говорит о том, что он стал капиталистическим или отказался от своей идеи достичь коммунизма. На мой личный взгляд, ошибкой коммунистов СССР было то, что они пропустили несколько переходных стадий. Например, накопления капитала, что, понятное дело, происходит за счет частного бизнеса, следующей стадией как раз должен стать государственный капитализм, то есть государство не отбирает частный бизнес, а скупает его, чем переводит частный в разряд общественный, потому что государственно означает, что принадлежит гражданам. И я помню ту чушь, которую после распада СССР проповедовали в России 90-х про-западные политики, рассказывая про неэффективность государственного управления бизнесом, но спустя 30 лет стало понятно, что дело не в том, принадлежит это государству или частному лицу, а в цели и управлении, а эффективное управление зависит от мотивации. Иначе говоря, если на государственном предприятии зарплата руководителя зависит от эффективности этого предприятия, то оно работает эффективно)) Я это все к тому, что то, что я вижу в Китае и отчасти в России, это как раз стадия медленного, но постепенного перехода в государственный капитализм. Плюсов это приносит много, просто это напоминает комбинированную систему, где у вас есть свободный рынок, но естественные монополии и стратегические сферы экономики контролируются государством, причем не всегда 100%, а имеют контрольный пакет акций для управления, зато они как инвестор и собственник получают доход, наполняя бюджет, из которого они тратят на дополнительные инвестиции, социальную сферу и выравнивание благ. Жаль, что Россия с самого начала пошла не по пути, который выбрал Китай изначально, мы наивно пошли по пути американского капитализма, и только сейчас пытаемся постепенно поменять направление. Лично я придерживаюсь мнения, что самой эффективной будет концепция, которую я для себя называю - симбиотической, то есть совмещением разных систем с выбором концепций наиболее эффективных в разных сферах жизни, но которые будут противовесом друг другу. И если посмотреть на страны с наивысшим уровнем жизни, то в 90% случаев это будет социал-демократия, а не чистый капитализм.
You can talk about 100 ideas in a day, but for a period of time, you can only move forward with one, not many. USSR did what it could best. Chinese Communists have learnt a great deal from the Soviet experience. 100 percent central economic planning was the best plan for USSR during the 30s, as the country was backward with no industries that could match the west.
@@morningstararun6278 Вы правы, так как переход путем революции привел к падению экономики, плюс гражданская война и участие в первой мировой одновременно привели к усугублению ситуации. И когда Ленин вводил НЭП, что чем-то напоминало курс, выбранный Китаем, то был экономический рост, но в угоду политики был свернут, ведь для коммунистов того времени наличие частного бизнеса было табу. И на самом деле, у СССР было еще несколько возможностей улучшить экономику, даже без перехода к частному капиталу, но, к сожалению, эти возможности не были реализованы, а упадок веры в систему и взгляд на рост экономик западных стран привел к распаду СССР. И именно поэтому в 1991 году был выбран курс на американский капитализм, но не учитывались многие проблемы, с этим связанные. И если бы условный Запад не продолжал вести себя надменно, то, скорее всего, Россия бы и не изменила курс, так что, наверно, отчасти надо сказать им спасибо за их надменное и высокомерное поведение)))
@@Vit_Kon Lenin's NEP was a much more open economy, which would have failed in a few years, as the western countries themselves were facing the great depression. Stalin made the right decision to build a closed economy, that doesn't have to suffer the economic hardships of the western countries at that time. And Stalin's model didn't dictate every aspect of the economy. There were many Artels that were performing absolutely well in bringing out the individual talents to the foreground. It was the Krushchev's model that failed terribly for USSR. If WW2 didn't happen, the American Capitalism would have collapsed by the end of the 30s itself, and Stalin's economic model would have emerged out completely victorious. We might as well be living in a better world today. But WW2 did happen, and it made America to suffer no damage, and also become rich beyond means, while the USSR faced heavy damages in the form of human life and infrastructure. You may not agree with me, but Stalin's economic model would have worked out great if WW2 didn't happen.
Fantastic show! Thank you so much. I often watch financial channels and usually feel like the China economy is misrepresented. Now I know I'm not crazy.
Dear Ben, this is hands down the best and most informative information about the Chinese economic system, and the differences with the Western capitalist system that I've ever come across. Thanks for your excellent work. I wish there where more journalists that operate on your level. Journalism in the West nowadays seems to have mostly deteriorated into a cleverly hidden propaganda exercise, unfortunately.
Excellent source of information and contrasting of China's concept of how the economy should work and the capitalist Western concept. Keep up the good work!
A great eye-opening and timely presentation for the world ! With Deng Xiaoping's philosophy, China has successfully used Capitalism as a tool to uplift society rather than embracing 'hardcore capitalism' as the ultimate goal like the West.
Chinese SOEs are profitable. Their dividend payments are also higher than American companies. I sold all my American stocks and bought Chinese SOE stocks because much better dividends. For example Chinese banks pay double American banks
@@phongnguyen-we8fu China's SOE "state owned enterprises" should be called "Socialism Owned Enterprises". They control the majority of the most important commodities for a country, food and energy, etc., keeping it affordable for the masses, thus keeping inflation really low 1.7%. I wouldn't be surprised if there are some corruption but it's working very well. Compare to the capitalist west where private enterprises own land, food and energy and they could care less if your energy and food bills are too high. In fact, they took out food and energy in their "core inflation" figures lol. What a joke! Fools all the ïdïóts in the ŰŠ. But I am collecting huge ridiculous dividends from my energy stocks lol, ET EPD AM (25%+ yield on cost). So I could care less if I have to pay $6 per gallon for gasoline in the ŰŠ. It works for capitalists and investors like me, but not for the 99%...
@@peanut0brain goto interactive broker and open an account you can buy China state bank shares on Hong Kong stock exchange some are at 7/8 % dividend rate
BRAVO, BRAVO!!! Brilliant episode of GER, exceptional teaching and GLEEFUL learning on my part. I need to watch it again just like I have re-read really good books, to do the brilliance justice.
Superb rundown! The look on the other panelists' faces while Louis Saint-Gauve talked about definitions of winning is priceless! Thank you for this, Ben.
Wow, what a brilliant presentation. Thank you Ben Norton for educating and sharing your economic and geopolitical knowledge with us. You are simply the best, bar none. Thank you, thank you Ben Norton. 👍👍👍
🇨🇳🇺🇲 You never discussing 1- Chinese real-estate bubble 🤷 Real estate contributes almost 30% of the country's GDP. 2- never compare China labour laws with US Workers in many Chinese factories toil for more than 80 hours a week for low salaries, going hours without breaks. I think you forgot the Foxconn factory. 3- 22 Feb 2024 - More than 37,000 Chinese citizens were arrested for illegally crossing the southern border of the US in 2023. ( Al-Jazeera )
4:20 The economy of the soviet union was not entirely planned, at any point of it's existence. Markets always existed, for consumer goods. They did planned the production and refining of raw materials, but the limiting factor was pen and paper planning and computing power from that era (and the Kantorovich model used for planning, he successfully managed to plan a paper mill properly but a whole economy have like 10000-20000 inputs in the linear equation depending on the country). Paul Cockshott have written about this.
Also, it would be good to see a comparison of China's crime rates with those of the U.S. What are the numbers of shootings, robberies, assaults, rape, mass shootings, etc. It would be very revealing tp expose which economic and cultural system is more conducive to living well..
Is the population of G@z@ 20m? Or is the population of occupied Kashmir 20m? Can you be more specific? Maybe tell us about why 60% of the population in cities of little-India lives in slums.
@@user-zu5do6ri6r And where did your "20 million people in concentration camps" come from? Solid evidence and proof required - not from some hearsay, third-party gossip columns and conflated made up reports from secret foreign agencies with a hidden agenda, please.
One of the best Geopolitical Economy reports yet! Makes me less upset to see rapidly unraveling before us the capitalist system, in the West and in the US, that is all that we in the West know, and have been trained to say is indisputably superior. Were it not for the fact that these are our countries, the places where we live and where our fortunes and fates are invested, there would otherwise be nothing to mourn here. The setting sun over the Faded Empire that is Late Capitalism is, really, a good thing for the world. It’s an immoral, predatorial system that needs to end, one that is cracking and collapsing under it’s own top-heavy weigh, and one that is rapidly nearing the point of terminal implosion. Unbridled, insatiable, murderous greed is driving it over the precipice, as it should be.
Bravo Ben. What a lucid, fearless, and honest analysis. What a wonderful presentation for a county ravaged and subordinated by western and Japanese militarism. You leave me in greater admiration for Chinese socialist tradition. Thank you.
I have been reading the works of Mao and was struck by the frequent favourable mention of free enterprise, democracy and "other parties". Yet all in the context of discussing socialism and communism. The idea that communism has no room at all for capitalism is a western one. Mao understood that communism in China had to coexist with a world of capitalists and other ideology. He was insistent on coexistence and cooperation. The west often portray men like him as Idealists who were impractical. It's true that im his latter years, others who were intellectual pygmies hijacked the political stage and almost totally wrecked China. But Deng and Zhou who, no doubt, had endless discussions with Mao were able to bring it back on track. Now, Xi has shown himself as intellectually acute as Mao himself, as we have seen, carried on his legacy.
Brilliant Video Ben...! 👏👏👏 Evergrande was mainly Foreign Investors trying to make Money for Wall Street etc in Pension Fund investments thinking there would be next to no risk. Now all the failed Properties are being sold to Chinese families to live in. Chinese Couples were separating so that each could buy a Property each...then remarry and let 1 Investment Property out! Chinese people can now buy homes at affordable prices, buy Furnishings etc instead of having to live with Parents plus have more Children and space for them.
If the same real estate collapse is to happen in Western Capitalist dominated societies, the entire society will collapse into a rubble overnight - as we have seen what happened in the U.S. Sub-prime Mortgage predatory lending which led to the Global Financial Crises.
I have great respect for morally principled, knowledgeable, critical thinking and brave ppl like Ben Norton and Daniel Dumbrill. They are the examples of the light of humanity. When spelling "humanity", ppl should understand that we should strive to be Earthians for a sustainable peace instead of being tribal, one of the main root cause of conflicts.
The Chinese Government uses appropriate tools for the job. The US Government _is_ a tool that is used by the highest bidder.
The Chinese Government manufacture weapons to prepare for war that a certain warmonger keeps provoking. The US Government manufacture wars to sell weapons.
Yep.
💯 agree.
Anything for sale in this country including their dignity & sanity . It’s a ho country !
CPC is trying to please Chinese citizens in order to remain in power.
White house is trying to please its donators (blackrock, blackstone, oligarchs) in order to stay in power.
In China the state controls capital, in the United States capital controls the state
I think you mean, those that control the capital control the state. But he who controls the media controls the country!
yes and its sad. state supposed to work for the society, not few degenerates.
Yeah, And In China, "the state" is control By small group of people and their family😅 they have money and power directly
Uni Sovyet= The state controls capital and the means of production.
China 🇨🇳= state controls capital. And the private& state sector controls the means of production.
United States🇺🇲= private sector controls capital and means of production.
Seems both not so good 😂..rich turning with more politic power and rich and power 😂
Even as a Chinese person that grew up in China, I find your video very informative. China has problems, and it always will, but I've witnessed how Chinese people (including my parents) were lifted from poor living conditions, and how life quality improved significantly. The fact that those mega cities we see today were dirty and shabby not that long ago always amazes me. I've seen so much changes, in just a few decades. I'm only 29 this year.
The only constant in this world is that it changes every day, as long as the country keeps moving forward, it doesn't matter what the doctrine is, it's more prosperous than it was yesterday
@@Bai420-h2k Give an example
This recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.
Let's face it, increasing stock and index fund purchases during downturns and bear markets is unnerving. Which makes it very difficult for most people, like me, to do. It's challenging to incur the risk of investing the one million dollars that I have in an S&S.
Investing in stocks can be a wise decision, especially if you have a dependable trading system that can lead to successful outcomes. Personally, I've been working with a financial advisor for about a year now. Starting with less than $200K and I'm now just $19,000 away from making half a million in profit.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same. Is there any chance you could recommend who you work with?
Finding financial advisors like “Stacy Lynn Staples” who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Have been using youtube for 17years , and this content is the first and only ever telling the audience what the Chinese governing system truely is, it is not state capitalist,. Not absolute socialist, it is called socialist in chinese characteristics, familiar name right? But Ben explained it today. Kudos to Ben. From this day, the mysterical box is opened.
Amazing how long and hard you have to look to find this simple set of facts. Bravo Ben!
and socialism with chinese characteristics means state capitalism :)
While the chinese public sector represents about 25% of its gdp, the oecd average is 22% and countries like Denmark, Norway, Iraq and Bahamas have bigger public sectors than China, still nobody considers them socialist.
@@Henrike406 I would think it's because the objective of Chinese state funded businesses are different. Socialism is politics so it's about ideals. Execution rather than actual business structure.
For starters, using the measurement of GDP is somewhat slanted, as when Chinese state funded businesses grow, they pay their employees more, countering that growth with increased labour spending and transferring that GDP to the private sector in wages (where it's spent on goods, just like benefits in other countries). This has a deflationary growth effect. If we look at Denmark's oil business for example, most of that profit is going directly to government and therefore they could be making the same amount as China but Denmark's "profit" would be higher, and net effect on the economy would be lower (as wages in public hands are spent more often and thus contribute to GDP again and again, like profit, giving China more growth per $ of profit).
So when you say 23% you're talking about what's going back to the government that owns the business when for them that's only part of where the profits are supposed to be going.
@@Gen0cidePTB Many other countries also use state owned enterprises for social goals instead of making profit, it's not just China.
@@Henrike406 this is correct, for example, Singapore. China is pretty much very close to Singapore system except the election.
US wanted to make a fool out of China. But instead, the US made a fool of itself. Let that be a lesson.
"There's an old saying in Tennessee - I know it's in Texas, probably in Tennessee - that says, fool me once - shame on - shame on you. Fool me, we can't get fooled again!" - George W. Bush
The only threat's the U.S actually faces are internal.
smfh.........okay commie
"The US" wanted to enrich their elite and they succeed. There was never any bigger plan, like "mak[ing] a fool out of China", behind anything.
Those who laugh first laugh last
China has the greatest manufacturing capacity. US has the greatest clown production capacity and the greatest national debt.
It’s 1001 , repeat repeat repeat …………………………. 👎
Good one.
America also has the most destructive nuclear weapons. So checkmate.
81-genders2
China = Construction
America = Destruction
Deng Xiaoping on ''Socialist Market Economy''.
''To uphold socialism we must eliminate poverty. Poverty is not socialism.''
-- Excerpt from a talk with the Japanese delegation on June 30, 1984
Deng is a pathetic revisionist.
@@Alan-Classified Your statement is pretty pathetic as it is supported by nothing.
@@Faye_Liu 反正我也不怎么喜欢邓，比起教员老人家的无私，他差的有点远，64就是他儿子为首的一帮二代以他们这些父辈为保护伞，利用价格双轨制投机倒把，搞得天怒人怨，激起了民变，导致一发不可收拾，被人利用受不了场。老百姓编顺口溜“主席的儿子上前线，小平的儿子倒彩电”讽刺他。他儿子从康华、彩票里搞了多少钱很难说。
How about 'to be rich is glorious'?
@@loveblindhate9318 In a 1986 episode of “60 Minutes,” the first major interview Deng granted to a Western broadcaster, Wallace asked: “To get rich is glorious. That declaration by Chinese leaders to their people surprises many in the capitalist world. What does that have to do with communism?”
Deng’s reply: “To get rich is no sin. However, what we mean by getting rich is different from what you mean. Wealth in a socialist society belongs to the people.”
Although Deng didn’t actually say “to get rich is glorious,” Wallace believes that the Chinese leader acknowledged ownership of the words by not challenging the question. “He certainly never said, ‘No, no, I never said that,’ ” Wallace says.
In the interview, Deng emphasized that wealth in a socialist society meant “prosperity for the entire people” and must not lead to a situation in which “the rich get richer while the poor get poorer.”
Learning from China's success would benefit all humanity.
Well done China! Respect.
LOL!!!! Success. . . that's good one!
@@careyfreeman5056go live in China and you will see
@@careyfreeman5056maybe state your rejection instead of acting like a teenager who just went through puberty
What a spectacular exposition of Chinese socialism! It has cleared all the doubts that I was having about the real nature of the economic system there. I highly appreciate this gentleman for his enormous amount of solid and original research that should have gone into the making of this wonderful presentation!
Please don’t listen to this nonsense china hasn’t been socialist since the death of mao
Agree
Thanks!
The next time somebody tries to tell me that China is a capitalist country i will direct them to this video instead of arguing, thanks Ben.
Some people just can't unlearn their propaganda. They will die in their ignorance
I should forward this video to my current government. For 43 years we had a socialist government and while the country thrived the people also enjoyed a good standard of living. For the past 3 years we've had a liberal government, while the country has gone through economic reform, the people have been getting poorer and the politicians richer.
China is a capitalist country, they just leverage socialism more than most. Ben, like many people, have a false/manufactured understanding of these words.
But isn't it a state capitalist with Chinese socialism
American has little clue about China economy works, American economist seem to be sterio type..rely to much on basic capitalist and conventional systems.. American finance system only work good for them. FED system tools for manipulate reports , money making machine, interest rate speculative conundrum
China isn’t a 100% communist country, indeed, it is a mixture of communism + meritocracy + capitalism. In China, their leaders are mostly PHD or master graduates who are experts in various sectors, but in Canada for instance, their prime minister is a drama teacher.
In the west, the leaders are chosen by popularity contests, not true meritocracy.
Like the middle left. Socialism with Chinese characteristics.
These are Western explanations based on the narrative logic of the Cold War, but from the narrative perspective of Chinese history, this is an institutional upgrade in the transformation from agricultural civilization to industrial civilization. Many institutional designs have been passed down for thousands of years, such as the public-private partnership system.
OMG a drama teacher
@@Chancellor-g9b lol, he’s trained for the “world stage”
This is an important video on China's economic structure versus North American.
It is also a clear description of the USA stock market destruction of American society.
I think Western Oligarchs are quite aware of the benefits of China's economy for the majority of citizens. However, they believe in wealth for the 1% with govt help; they deserve it and the majority do not. Hence China is a major threat to their supremacy; especialy as an example for the North American working Class.
chinese socialism is not copying the books. Chinese socialism is flexible whatever is favor to its people. I like the saying: chinese is a closed society but open mind. west is open society but closed mind.
Good way to put it
I remembered 10 yrs ago, I expanded my business. Our Chinese supplier offered to finance expansion at only 4% interest per annum thru state owned bank. The only thing supplier required is to continually purchase from them. Now, our partnership has grown. This is what we called Win-Win.
What happens if you find a better price and go with a different vendor? Do they call in the loan? Change the interest rate?
@careyfreeman5056 Thanks. A very good question. My supplier's price is more expensive than others. However, among the 3 prospective suppliers that I visited in China, my supplier has the best quality because they are accredited by multi-national corporations. Most of my customers need such quality, so we are a good match. Indeed, few of my customers need cheaper and not particular about quality so I buy from others. Note that I only need to continuously purchase from my supplier to avail of such loan, though my loan was already fully paid.
Ben, you are the real China expert. I've said this before, you understand China better than most Chinese. Keep up the AMAZING work you've been doing!
Are you sure?😂
Many Chinese know their system well, but few of them are able to talk about it in English
@@Shadowless_Kick Exactly. Ben has done brilliant research work on China and most importantly he's been doing what a true journalist should be doing, informing people the truth and facts.
@@Faye_Liu I understand and fully appreciate that, but how does that equate to "understand China better than most Chinese"? Are you implying that most Chinese who live and work under the socialist system know nothing about it?
@@baichuanren885 I am not implying most Chinese know nothing about their own country's systems/policies and politics. Most Chinese have a good level of understanding of the fundamentals of the governmental policies on economy and other aspects through their everyday life but not so much of an in-depth understanding as detailed in Ben's videos. Ben's analysis of China is quite academical, there are a few well-known Chinese scholars/intellectuals (Ben cites them sometimes) followed by many Chinese are of course way more knowledgeable than Ben, though they either don't speak English (well) or have a platform in the West to spread their knowledge plus they will usually be labelled and dismissed as government mouthpieces. Even Ben gets that a lot. Plus most Chinese are quite apolitical and not so hung up on a particular political ideology, they focus most their time on their practical life rather than studying economics and politics.
In a 1986 episode of “60 Minutes,” the first major interview Deng granted to a Western broadcaster, Wallace asked: “To get rich is glorious. That declaration by Chinese leaders to their people surprises many in the capitalist world. What does that have to do with communism?”
Deng’s reply: “To get rich is no sin. However, what we mean by getting rich is different from what you mean. Wealth in a socialist society belongs to the people.”
Although Deng didn’t actually say “to get rich is glorious,” Wallace believes that the Chinese leader acknowledged ownership of the words by not challenging the question. “He certainly never said, ‘No, no, I never said that,’ ” Wallace says.
In the interview, Deng emphasized that wealth in a socialist society meant “prosperity for the entire people” and must not lead to a situation in which “the rich get richer while the poor get poorer.”
Black cat or white cat? Unimportant. It's task to catch mice.
Xi has turned his back on Deng's reforms
It blatantly highlights the disgusting levels of individualism present in America
based
@@Faye_Liu There is still large wealth disparity in China. Work still to do
I also used to think that China is a dictatorship, until I realised they have one of the most merit based political system in the world, its real results that earn you a promotion in the party not popularity
The leaders of China all started from the grassroots level, having lived in rural areas, managed townships, served as mayors and provincial governors, and then gradually moved up to manage the country.😊
It is always good to hear real news and not fake news like on tv, thank you Ben, blessings
The main take away is, China is not hung up on certain labels. China is still China, driven by tradition Taoist and Confucius philosophy -- CHANGE.
This is also a way to mislabel them. They are still Marxist first, because the party do believe in the basic ideas of Marxist-Leninism. The Chinese Characteristics are there to adapt ML policies to the Chinese people.
@@gelinrefira It is just anti-communist propaganda to make people think communism is just non-market and Soviet style command economy lul. And even the Soviet also had market too.
@@gelinrefiraMarxist sounds good 😅
China os marxist too
@@gabrielzanoni9961 that’s why it’s successful. Australian economic professor Steve Keen have a very good explanation
Of Marxism
“It is the heart of U.S. policy to use fascism to preserve capitalism while claiming to save democracy from communism.”
- Michael Parenti
Love Parenti🙏
Well America is a 2party system and not a democracy it's hegemony behaviour that is creating the down fall of every Empire from the Vikings to the Roman's British Empire and every other who tried to rob the people of their Dignity and resources because God will let no human beings be above God. They will always pay the price of destruction like Sodom, and his followers turn into saltpilliars.
Well, not to use facism to preserve capitalism, more to use any means necessary to preserve capitalism, and facists happen to be the ones with the fewest hang-ups about doing the dirty work, liberals seem to be a close second where they just need an excuse.
Beautifully succinct
Thats a lot of isms
Never underestimate the power of central planning in a country as large and as diverse as China. The country would not achieve such high successes without the central government's mandate on the development of high-speed railway network all over China, as well as steel making or agriculture or food self-sufficiency or oil and gas explorations or the defense industry and even space explorations. All those important projects must be implemented and supported by the government -- not by entrepreneurs in the private sector due to their limited resources and due to their demands for short-term recoups of large investments like what happen in Western capitalism. Market reforms through a high degree of relaxation of rules and regulations infused with a mix of capitalistic rewards were what gave rise to the many success stories in the Chinese nation.
We all called it "socialism with Chinese characteristics." And this type of socialist ideals gave birth of an explosion of innovations and the need to achieve success by the private sector of the economy. I call that the economic miracle of China and I do not discount the role of the central government in all these.
The PRC is hardly the only country where central government played a large role in national transportation systems and so forth. In the USA, for example, rail systems were emphasized along the densely-populated Atlantic corridor, with highways and airways elsewhere. Mostly federal money and guidance.
As for space exploration (and aviation), waffling by various PRC governments delayed progress to the point that they are decades behind where they could have been with steady support. So a mixed bag regarding CCP involvement in various critical areas.
@@marcmcreynolds2827 patience. They have priorities. All will be addressed in time. 1.5 billion people is not kinder playground.
@@DivinaAncelet-i7p That's been their party line for... well decades. Success is just around the corner. "We can build space shuttles!" proclaimed their head space guy in 1981, but then it was another twenty years before they even orbited their first simple capsule. Other priorities have also shifted as various people have come and gone (or been forcibly removed from the party meeting by a henchman on each arm ;)
Time is what these 1.5 billion people no longer have. The expression goes "Japan got rich before it got old. China will get old before it gets rich." That's started to happen even faster than economists had earlier predicted, with now roughly 50/50 bets on whether the PRC economy will at least temporarily pass the USA before falling back in a long demographic-based decline, or never even gets there. Xi's economic missteps are accumulating at bad time relative to his country's demographics.
@@marcmcreynolds2827 I’m sure they will. If they successfully built more than 33,550 speed trains with latest at 480 km - they’ll just keep going..
@@DivinaAncelet-i7p Transportation infrastructure has been one of the bright spots, helped by the fact that the PRC is able to complete HSR projects for between two-thirds and one-third of the costs elsewhere. Partly from economies of scale, and partly from lower labor costs.
Outstanding video!!!! Excellent facts and well documented!! I honestly love the way China established their economy and made incredibly effective!! I think more countries (including U.S.) needs to study the Chinese system honestly and use it as a model! Their People are far better off than most Americans, that is for sure!!!
Thank you, Mr. Norton. It's always a joy listening to you. Clear, factual, easy to understand, and above all, your views are from a unique angle with lots of wisdom.
“Capitalism has neither the capacity, nor the morality, nor the ethics, nor the will to solve the problems of poverty.”
- Fidel Castro
They want communism / socialism dead because it works for the 99%.
But Communism doesn't have the means to solve the problems of corruption. Only a Socialist Democracy can do both.
@@murraymadness4674 The USSR, Yugoslavia, China, Cuba, the DPRK all disagree
@@murraymadness4674 so USA "dêmókrazy" is not corrupt? Which planet you from? Lol
@@murraymadness4674 the US is the most corrupt country in the world because it's legal to bribe politicians.
Thank you Ben. Independent journalists with journalistic integrity are the heroes of our time.
Broken record !
Uni Sovyet= The state controls capital and the means of production.
China 🇨🇳= state controls capital. And the private& state sector controls the means of production.
United States🇺🇲= private sector controls capital and means of production.
You truly are helping the U.S.A become a better place, by informing the people.
Unfortunately the policy makers are cold War dinosaurs
Indoctrination into believing communist evil
Capitalism good
They can't comprehend the middle path
Very impressive video. I don't understand why so many people called it a propaganda. The video has just talked about the stock market in china but nothing about the superiority of socialism.For me, It surely provide a brand new perspective of the differenece between China and US in the stock market. Either one is just a method to regulate the economy.
China's "socialism with Chinese characteristics" means the ultimate goal remains NON-negotiable: which is to ensure EVERYONE should not have to worry about survival (where to spend the night, when will they get their next meal, etc.) and, in order to achieve that, the government should not restrict themselves to policies & methods associated with a socialist regime.
In short, it spells out their mission (goal) & their methods (be flexible & adaptive.)
That is why despite its increasing number of rich people, it ALSO managed to pluck hundreds of millions from poverty.
That is also why despite its rise from an agrarian society to an industrial powerhouse, its FARMERS (no big range owners like in the U.S.) enjoy financial security instead of being exploited.
People in countries that practice various forms of 'democracies,' such as Argentina, the Philippines, etc., should ask themselves: Why do their rich get richer while the poor continue to be poor? Why are their countries - despite being "allies" to the West for so long - seem forever to be still 'developing' with no end in sight? Is there something wrong with their politicians who just mimic or follow what those developed nations 'advised' them to do??
Yall full of it. Capitalism and industrialization also managed to get millions out of property as well. In the end it’s capitalism that did it. And im no capitalist. I like china growth but I prefer socialist democracies far far better as they do the same thing
@@TopagendadollaCapitalism has killed billions lmfao. Fascism being the highest stage of capitalism. And what "socialist democracies?" I assume your refering to Nordic countries which are Social Democracies which are explicitely Capitalist, welfares states that are subsidized off the exploitation of the global south
哈哈，我的工资奖金四分之一都是税，一部分税金流向贫困人口。我回村子，我妈跟我抱怨，像你们这些人交税那么多，都让村里这些不劳而获的老古董吃了低保。
@@yanhantang8417这就对了 不然怎么共同富裕
@marcosburgos8415 Well-said. Capitalism, as practiced within capitalist democracies such as the U.S. killed far way more people worldwide than any number that was said to have been racked up by communism & the Soviet Union.
Moreover, what is always left out of the narration on how Industrialisation & Capitalism assisted in poverty alleviation was it was basically through state intervention via laws, policies like taxes, minimum wages, and programs directed towards education & housing that any societal gain came about.
The capitalists, if left to their devices only care about maximising profits from production, preferably to cut labor costs to that end. Capitalism in its essence is neofeudalism.
Watching these videos and realizing that China has achieved or is close to achieving all its goals. China is amazing! I'm a lucky expat to be living in China since 2013...the year Xi came into leadership. I've literally watched China change before my eyes!
Economic inequality in China is as bad as its ever been. It's not better than the US
Yeah, let us know when the eighty million condos are sold.
idk about expat tho, immigrant maybe?
Ben Norton, you must be the one of the most analytical journalists there is in the West. Thank you a lot for all of the work and research you do! I wouldn’t be able to do all the research in this depth all by myself, so I am so grateful for everything you do and presenting it so elegantly as well 🙏
So true.
Great job, Ben. I like how succinctly Radhika Desai explains the difference between capitalism and socialism: in capitalist systems the government answers to the capitalists, but in socialist systems capitalists answer to the government. One of wisest things that both China and Russia has done is to reestablish the primacy of the state over the billionaires/oligarchs and their selfish interests. As a citizen of the US, I see that my own government is subservient to the selfish whims of the donor class that supersede the needs of the great mass of the average US citizen, and I see the wisdom of what Russia and China have both done.
that´s not socialism, if the workers don´t run the state. It´s state capitalism. Capitalism in fact can´t survive without the use of a state.
@@gaia316 Radhika Desai apparently disagrees with you.
Russia? Come on, with all due respect, it is a country where oligarchs and powerful departments are inextricably linked. It only looks like the government is restricting the capitalists on the surface. It is a country that is terminally ill.
Thanks for the video and the information. I can understand the Chinese model much better now and see how it differs from the capitalist system. A government run company or industry is often criticized in the West as being inefficient and wasteful; these critics say that there's no incentive for anyone to do anything because, in order for there to be an incentive, there has to be some kind of "private"/personal gain and payoff for doing more, achieving more, etc. Although there is evidence to support what these critics say, there is also plenty of evidence to support that the capitalism of the West is extremely wasteful (many times deliberately to keep prices high); the capitalism of the West often does things that are against the interests of a country's citizens and national interests. The goal of this system is not to improve life for its citizens or the country but to make a quick and high return on investment. Once again: investment for the "common good" vs investment for "the good of a few". And forget the "Reaganomics" of the '80s that tried to sell us the idea of a "trickle-down" effect. That proved to be a farce. Please keep the discussion going. The capitalism of post 1960s Western Democracies doesn't work and the only reason why it's survived until now is because it's been feeding off the global south which has now woken up.
I feel like the West loves to tout that their government doesn't interfere with the market. But it's just an excuse for the government to not do anything for the people (or only do stuff for the richest of the rich)!! But what is the government for if not to serve the people!!
This video is worth its weight in gold. Its like an entire PHD of research put into it. Absolutely phenomenal work by Ben Norton. I am more than happy to have been contributing a small amount to his cause every month.
资本主义才是导致贫穷 的原因，西方的一切都属于私人拥有，不要忘记人性的弱点，那就是贪婪。
capitalism works till a few owns more than 80 percent, then everything goes downhill
This absolutely true! Capitalism in private hands exist only for profit making. we saw and experienced it (and still is) here in australia when the Australian political,leadership (both parties), decided to follow Ronald Reagan's "Reaganomics" and privatized out banks, power and telephone lines, selling what has been PUBLICLY owned utilities back in the 1980s. Before then, Australians were enjoying the cheapest power bills but steadily over time, the privately owned utilities began to call in their investments and increased prices. It has reached the point today when families are deciding whether to miss out in having a meal in order to pay their power bills or shiver in the freezing cold of winter.
The power companies don't give a hoot but continue to make excuses why they have to increase prices and the government has absolutely no clue as to how to fix the problem when the public is screaming at them (except hand out a few dollars here and there to try to mitigate the sufferings of the people). After all, the government has already taken the money they got paid from selling off the utilities that once belonged to he people and have nothing left to buy those utilities back. Besides that, no political party in democracies is willing to ever, ever admit that they did wrong and made a huge monumental mistake in copying a non-economist American president who was a "B-grade" Hollywood actor (but he sure fooled them all in the end).
資本主義如細菌，不受控制(政府)，將用盡一切資源！
True very true !!!
当资本主义失去了干涉他国的能力后，就必然沦为贫困。名副其实的吸血鬼经济，吸不到血就要内爆。
Chinese models IS superior, its all about balance.
Calling the country of 996, the country of balance is some top teir ideologue lolcowism
@@hermsflerms2373996 is only for tech workers and the govt wants too get rid of it but the capitalists don’t
So if it wasn’t for the cpc china would be far worse
@@hermsflerms2373 They work hard for a better future, not to make the 1% richer. And the precise reason for economic hardship right now is the U.S. trying to stop them. So, more power to the Chinese hard-working poeple, they will make the world a better place and end the U.S. hegemonic rule.
@@baichuanren885 Nah even Chinese workers complain about the insane work culture and how the bosses squeeze them more than western ones. There was a huge debacle with a coffee chain 2 weeks ago where there were multiple instances of a worker beating up customers largely because they are made to work solo for 12hr shifts. East Asians take neo-liberalism to hardcore territory. But yes, it's 1 reason why they've all caught up really quickly.
@@hermsflerms2373 The reason why we can 855 is due to our imperialism. Thank you for reminding everybody that we are lazy, murderous and thieving.
Kim Iverson and her recent guests disagree because to her and her guests, communism is a brand without a definition...
So sick of lazy/disingenuous takes. Thanks Ben! I learn a ton from these, and from Radhika and Michael as well.
Kim 🤡, said, China is Communist so i will not visit China.
As a person from Vietnamese descent 😂😂😂😂😂, or Korean?
I dont care, she is a🤡
I think Kim was brought up to be bitter about losing the Vietnam War to communists because her parents had to flee the country. That's my theory anyway lol
i disliked her video where she had a right winger saying bad things about communism.. first on ive ever disliked of hers
She is more tolerable than 99% of the so-called geopolitical reporters. She lacks comprehensive understanding of Chinese systems and communism, so she cannot offer meaningful rebuttals to these neocon/neolib think tankers.
Engles must be crying over his wasted time writing the Principles of Communism
China has exceptional hybrid system that America don't and want to understand and say the truth that China has a great, powerful, exceptional hybrid,smart system whose are goals are to allow market concepts while still working for the betterment for its people!!!!
It is called social democracy without the democracy part, whith bigger mega corps, more government surveillance, firewall to "protect" you from the evil west, less workers right.
Most important video on China's economy anyone has ever made in English!
We love you Ben!
I guarantee you that nearly no one in the west understands China, I am not exaggerating.
China's economic model can trace back to 156BC, early Han dynasty.
At that period officials decided what business should government do and what business should private entity do.
China is just returned to it's own tradition when she get the Chance in 1978(before there is no chance to do it).
Today is just a super plus new version.
But ofc China didn't want return to emperor like government in the past, the transition from inheritance can lead to conflict and power struggle in between the government.
Where I can find about detail about meritocracy and how China treat the retired government?
What system they can manage overambitious person keep in check??
@@criztaliz3413 They have the People's Congress and so far, it seems to be working well for China.
中國重大改革比漢代還早，漢代某程度承接了商鞅變法，那才是重中之重。
Look man, politically I'm probably more of a Chinese nationalist than a socialist. But this is just revisionist ahistorical nonsense lol. China isn't the only nation with history of government regulating private entity and you just can't pretend that the current Chinese government has nothing to do with Marxism.
@@foodparadise5792 关陇制度才是最终形态
Probably the best new upcoming country in the world good on them, and didn't cause any wars getting there
You should probably read history again.
Upcoming? China is simply resuming its rightful place as the most advanced civilization, a spot it has held for millenia before western landgrabs.
You read fake history written by the west.
In the War to Resist US Aggression and Aid Korea, the Chinese People's Volunteers fought against the coalition forces of 17 countries, including the United States. These countries include:
The United States has deployed 480000 troops and suffered losses of over 162000.
Britain: deployed 6000 troops, but did not disclose casualties due to heavy losses.
France: deployed a battalion of troops, suffered three defeats in three battles, and dared not fight again.
Türkiye: 5455 troops were deployed and 3200 people were lost.
Belgium: deployed 900 troops and lost over 400.
South Korea: deployed 590000 troops, resulting in a loss of approximately 1 million.
Canada: deployed 6100 troops and suffered losses of over 1500.
Greece: deployed 1263 troops and suffered losses of over 920.
Luxembourg: 44 troops were deployed and 15 were lost.
South Africa: deployed 826 troops and lost 115.
New Zealand: deployed 1389 troops without face-to-face combat, resulting in 20 deaths.
Thailand: deployed 1294 troops and suffered losses of over 1200.
Philippines: deployed 7000 troops and suffered 466 losses.
Australia: deployed 1700 troops and suffered losses of over 1640.
Colombia: deployed 1100 troops and lost 619.
Ethiopia: deployed 1271 troops and suffered losses of over 650.
Netherlands: deployed 3972 troops and suffered losses of over 760.
Such an excellent analysis and informative speech that I have to watch twice or more to learn and absorb all the details 😊. Thanks Ben for your continuous hard work and sterling efforts on explaining how the CPC practises and materialises Common Prosperity to its own people.
I’ve read a few books about China but could never find this kind of explanation for the economy. I took notes. Thanks!
The scourge of Western societies; Leaders wearing capitalist blinders viewing profits and constant growth as measurement of prosperity.
Not sure about prosperity. Maybe initially. Not sustainable, because capitalist “profit “ factor. It stops there. So super profit drenched industries keep going hysterically as it is the end. Keep gaining because THEY CAN. No fail breeds greed. Now from greed comes a network of “diversification” - greed for more profit, power, delusion of universal godly powers, owning individual lives by the millions, billions, caprice, temperaments, excess psychosis, endless bottomless “opportunities”. That’s why human factor is critical. N on humanity in capitalism - pure material ideology.
@monipenny408 They packaged it with a beautiful name - american dream.
Constant growth is a CCP priority
China's gov't has always been prioritizing economic growth for decades which resulted in poverty reduction and prosperity. So yeah growth (which leads to profit) is the blueprint for prosperity for the average person. De-growth would just send the Chinese back to the 70s.
@@dypra1234 As a economy develops high growth becomes harder. Also domestic consumption becomes more important
It would be great to have a video where you explain the Chinese Political System, debunking the propaganda that China is a dictatorship.
At a local level it is a lot more democratic than the West.
How many members do all the political parties have in your country?
In Germany it's 2%. As far as I know it's 5% in China. Swiss is the only country with more democracy. There the elected parties have only limited power, since people can direct policy by referendums.
China ist the second most democratic country by this measure.
@@masukomimediashut it and zip it with your bs.
@@masukomimedia, George Soros put $2M into financing the student cause, the CIA and MI6 using Hong Kong mafia extracted the student leaders to the west. All document in Western sources.
M
George Soros donated $1m to his China Fund I 1986 backing the T.Square students,
Ref Wasting Post 7th August 1989.
Operation Yellowbird, CIA MI6, extracted the student leaders from China.
Most impressed with the unbiased report of China’s policies and history! Well done!! Let the truth be told and publicize to the world! God Bless you. Ben Norton !👏🏻👏🏻👏🏻
Thanks
Very good analysis.
In fact, the Chinese called it capitalism in a special Chinese way. Deng said no matter it’s a black or white cat as long as it catches a mice in a legal way is a good cat . Basically, it’s a hybrid system.
As Mao said, the CCP party key mission “is to serving the People”!
China 👏👏👏👏👏👏👏👏👏👏
Ben, you are truly a Chinese expert, you understand China so well and as a Chinese I have learned so much from your Channel about my own country, as someone lived in Europe for 10 years I am truly disappointed about Western politicians and the way they are holding against China, so hypocritical and biased to it’s most and I am so glad that China and Russia are facilitating a transition towards a multipolar world which dominated by multiple voices rather than unipolar dominated by USA and its allies, that’s why they are panicking 😊
You are absolutely right, Maggie.
Time to go back
@@razikroos8854 I
Am , moved back last year ✌️
Russia fired the first shot against financial colonialism
check out eric li lectures too, very interesting
The key is to pick the different good ideas and adapt, not being stuck in ideological dead-ends. China understood that. The USSR too but made major mistakes trying to transition and got tricked by Uncle Sam.
The trick came easy since revisionists were running the USSR.
Jack Ma at 1st appeared like a "patriotic" trying to help the poor with his Alibaba (just like many Chinese traitor-aspirants).
Who would had known in the earliest time, Softbank of Japan was the major shareholder of Alibaba, i.e. Jack's master.
When Alibaba became successful, he started revealing his face, working towards his master's ill-strategy to plunder and trap the Chinese and his own nation. That's when Jack became so famous in the West, even in the White House. Jack was so arrogant then.
He wanted ANT to be the Chinese bank without even complying with the China's banking rules.
He "escaped to" and under "asylum in" JAPAN after his failed mutiny.
This was a typical Chinese traitor-aspirant story. There are many awaiting for their opportunity to reveal their true face.
Those very successful and tested with times, stay and serve the Chinese ppl at home, my respect for them.
Surprisingly these great minds are foreign educated (young generation of) Chinese.
So thankful for the hard work you put in to prepare your subject.
That was an exceptionally clear description of the difference between the American approach to wealth and growth and China's approach. It doesn't take much reflection to understand which model works better for everyone in the society. The answer, unsurprisingly, is not the United States.
Capitalism = benefits of the few
In a Capitalist society, EVERYONE with a business wants to be an instant billionaire (used to be millionaire but we have to account for inflation) overnight, making money from the public in which they operate.
@@George-k6o9t You forgot to add ;- making money/profit from the public in which they operate while not giving a damn about how they get that profit by. In a sense, may the fattest rat wins. That's how unrestricted, unsupervised capitalism works.
Arguably China is employing techniques developed during the capitalist-industrial revoution in the service of creating capital where as the west is more interested in reverting to the few owning less of a shrinking pot... The west model has been tried [feudalism-impiralism] and leads to distaster.
@@George-k6o9t Arguably these "everyone" you refer to are reactionary fedalists and cant be thought of as capitalists in the former defintion of captialism.
Cammunist socialism = stalibanist fascism
This is a comprehensively informative, inspiring & accurate commentary of yours on PRC's system of economy. It is amazing that as an US educated American you understand China so much. Thanks, Ben.
Can you do a video on China's public services ? Health, housing, free education, retirement... ?
you can search a blogger “living in china”
Marx would agree the capitalist development is a necessary stage of human development towards eventual socialism and communism
Yup.
Ben, this is one of your best videos. I hope you are enjoying your time in Beijing.
Although China's per capita GDP was as low as Sudan in the late 1970s, but due to socialism in equitable resource distribution, the Chinese people were far healthier, better educated and had better infrastructure than Sudan and India. This is comparable to Cuba. Cubans are very poor in GDP terms, but Cubans are most healthy and well educated in the Western hemisphere. These conditions in the late 1970s lay the foundation that allowed China to become one of the most competitive places for foreign direct investment for manufacturing.
You know, it's very interesting and accurate video. I've never seen such an objective approach in English language youtube to China's economy issue. Good job, keep going
The author touched one of the main aspects, which shows us whether China's economy is socialist
I was skeptical of the title at first, but this truly was an exceptional video.
If they shift to a system that we use, they fail like we are failing.
The premise for American capitalism to look good is the continued blood transfusion of most economies around the world
They haven’t been socialist since the death of Mao Zedong lmao they’re like a less imperialist america
Go read an economics book, brainrot andy
The State meaning The People!
No, in China that does not mean the people.
@@user-zu5do6ri6r Correct. It is not a workers state but very much a capitalist one.
The State never means the people. That is the biggest ML lie. State ownership is not truly "public ownership"
The state meaning the people means many people not individuals. Capitalist refers to individuals or dynasties.
state is not the people, if people lost the state
The secret of chinese is...they are very hardworking
Another, but hidden secret is...they are exploited at the point of production.
It is very difficult to outwork people who are being blackmailed, threatened and coerced into working harder.
That is not true, look at little-India, using the caste-system and yet their production is lower then China at its worst.
So how is life in Dharavi?
@@JohnT.4321 Pray tell - from your own personal experience in China?
@@user-zu5do6ri6r If you are using Foxtel as an example, the company operating in China is a TAIWANESE company, owned by TAIWANESE shareholders contracted to producing Apple iPhones for Apple. The hinese workers were exploited by the TAIWANESE.
What all of the various Marxist revolutions of the 20th century proved is that you can't skip steps. You can't skip over capitalism and go right from feudalism, and a mostly subsistence peasantry to a socialist society without going through a capitalist phase first. And if those 20th century revolutionary Marxists has read Marx, they'd know that. Capitalism makes socialism possible, due to capitalism's natural tendency toward overproduction. It's only through the surpluses of capitalist production that the conditions necessary for the emergence of socialism are possible.
So, of course China is capitalist (albiet a highly state directed form of capitalism). They have to be, because they want to be a socialist society someday and you can't get to socialism without going through capitalism.
Thanks so much for covering this topic. It’s something I’ve wondered about and not properly understood. Keep up the great work, you fill a valuable space in the media and knowledge landscape.
The CPC doesn't think it is doing a good job. It KNOWS it is doing a good job and the Global Majority can see that.
But the CPC also knows it can do an evening better job.
The biggest achievement in human history ! ... Excellent video by the way.
Greater China System.
China has a multiple perspective vision.
China has a multiple intellectual perspective.
China has a broader understanding of government and business systems.
China selects, learns and implements the best of every system.
China’s Asian philosophy focuses on managing and
complementing the needs of society, I.e., balance and harmony to the environment.
The history of China records everything.
China has the best tourist🎉 attractions/destinations in the world.
Проблема большинства граждан стран Запада, что они не понимают концепции социализма и коммунизма в целом, потому что за время холодной войны с СССР они занимались только дискредитацией этих политических систем. К сожалению, из-за распада СССР развитие этих систем остановилось, точнее, Китай, конечно, развивает ее, но, как обычно, делает это довольно закрыто. Но вот в чем основная проблема: любая система без конкуренции со стороны, без сдержек и противовесов перестает развиваться и скатывается в свои крайние формы. После распада СССР США получило монопольное положение, и такое же монопольное положение получил капитализм, и то, что мы сейчас наблюдаем, это и есть его крайняя форма. Суть крайней формы капитализма находится в одном простом принципе: деньги делают деньги, проблема как раз в том, что чем больше у вас денег, тем быстрее вы их зарабатываете, но так как деньги в конкретный момент времени ресурс конечный, то если у кого-то прибыло, значит, у кого-то убыло, и растет финансовое неравенство, в итоге мы и видим, как первая десятка списка Форбс владеет 50% всех активов мира, и даже внутри США 10% населения владеет 90% финансовых активов. И это не изменится просто потому, что такая система неравенства растит финансовые монополии. Что же касается социализма, то это система запроса на социальную справедливость и, как следствие, уравнивания возможностей. Более того, по сути, это переходная система к тому самому коммунизму, основой которого является: с каждого по возможности, каждому по потребности. На всякий случай, я не являюсь коммунистом, и утопичность этой идеи, на мой взгляд, является суть человека, который довольно эгоистичен, и эта система неплохая, просто не достижима в обозримом будущем, и пока не поменяется социальное восприятие людей. Но я не об этом, а о том, что большинство граждан Запада не понимают, что социализм не запрещает свободного рынка и «демократию», его суть именно в регулировании равенства возможностей и распределения благ. И то, что в коммунистическом Китае есть частный бизнес и свободный рынок, не говорит о том, что он стал капиталистическим или отказался от своей идеи достичь коммунизма. На мой личный взгляд, ошибкой коммунистов СССР было то, что они пропустили несколько переходных стадий. Например, накопления капитала, что, понятное дело, происходит за счет частного бизнеса, следующей стадией как раз должен стать государственный капитализм, то есть государство не отбирает частный бизнес, а скупает его, чем переводит частный в разряд общественный, потому что государственно означает, что принадлежит гражданам. И я помню ту чушь, которую после распада СССР проповедовали в России 90-х про-западные политики, рассказывая про неэффективность государственного управления бизнесом, но спустя 30 лет стало понятно, что дело не в том, принадлежит это государству или частному лицу, а в цели и управлении, а эффективное управление зависит от мотивации. Иначе говоря, если на государственном предприятии зарплата руководителя зависит от эффективности этого предприятия, то оно работает эффективно)) Я это все к тому, что то, что я вижу в Китае и отчасти в России, это как раз стадия медленного, но постепенного перехода в государственный капитализм. Плюсов это приносит много, просто это напоминает комбинированную систему, где у вас есть свободный рынок, но естественные монополии и стратегические сферы экономики контролируются государством, причем не всегда 100%, а имеют контрольный пакет акций для управления, зато они как инвестор и собственник получают доход, наполняя бюджет, из которого они тратят на дополнительные инвестиции, социальную сферу и выравнивание благ. Жаль, что Россия с самого начала пошла не по пути, который выбрал Китай изначально, мы наивно пошли по пути американского капитализма, и только сейчас пытаемся постепенно поменять направление. Лично я придерживаюсь мнения, что самой эффективной будет концепция, которую я для себя называю - симбиотической, то есть совмещением разных систем с выбором концепций наиболее эффективных в разных сферах жизни, но которые будут противовесом друг другу. И если посмотреть на страны с наивысшим уровнем жизни, то в 90% случаев это будет социал-демократия, а не чистый капитализм.
You can talk about 100 ideas in a day, but for a period of time, you can only move forward with one, not many. USSR did what it could best. Chinese Communists have learnt a great deal from the Soviet experience. 100 percent central economic planning was the best plan for USSR during the 30s, as the country was backward with no industries that could match the west.
@@morningstararun6278 Вы правы, так как переход путем революции привел к падению экономики, плюс гражданская война и участие в первой мировой одновременно привели к усугублению ситуации. И когда Ленин вводил НЭП, что чем-то напоминало курс, выбранный Китаем, то был экономический рост, но в угоду политики был свернут, ведь для коммунистов того времени наличие частного бизнеса было табу. И на самом деле, у СССР было еще несколько возможностей улучшить экономику, даже без перехода к частному капиталу, но, к сожалению, эти возможности не были реализованы, а упадок веры в систему и взгляд на рост экономик западных стран привел к распаду СССР. И именно поэтому в 1991 году был выбран курс на американский капитализм, но не учитывались многие проблемы, с этим связанные. И если бы условный Запад не продолжал вести себя надменно, то, скорее всего, Россия бы и не изменила курс, так что, наверно, отчасти надо сказать им спасибо за их надменное и высокомерное поведение)))
@@Vit_Kon Lenin's NEP was a much more open economy, which would have failed in a few years, as the western countries themselves were facing the great depression. Stalin made the right decision to build a closed economy, that doesn't have to suffer the economic hardships of the western countries at that time. And Stalin's model didn't dictate every aspect of the economy. There were many Artels that were performing absolutely well in bringing out the individual talents to the foreground. It was the Krushchev's model that failed terribly for USSR. If WW2 didn't happen, the American Capitalism would have collapsed by the end of the 30s itself, and Stalin's economic model would have emerged out completely victorious. We might as well be living in a better world today. But WW2 did happen, and it made America to suffer no damage, and also become rich beyond means, while the USSR faced heavy damages in the form of human life and infrastructure. You may not agree with me, but Stalin's economic model would have worked out great if WW2 didn't happen.
Fantastic show! Thank you so much. I often watch financial channels and usually feel like the China economy is misrepresented. Now I know I'm not crazy.
Dear Ben, this is hands down the best and most informative information about the Chinese economic system, and the differences with the Western capitalist system that I've ever come across. Thanks for your excellent work. I wish there where more journalists that operate on your level. Journalism in the West nowadays seems to have mostly deteriorated into a cleverly hidden propaganda exercise, unfortunately.
Excellent source of information and contrasting of China's concept of how the economy should work and the capitalist Western concept. Keep up the good work!
A great eye-opening and timely presentation for the world !
With Deng Xiaoping's philosophy, China has successfully used Capitalism as a tool to uplift society rather than embracing 'hardcore capitalism' as the ultimate goal like the West.
Thanks for this video Ben. This is exactly the kind of thing I was hoping you cover soon.
Chinese SOEs are profitable. Their dividend payments are also higher than American companies.
I sold all my American stocks and bought Chinese SOE stocks because much better dividends. For example Chinese banks pay double American banks
oh, that's interesting
How can you buy these dividend stocks? I'm a dividend investor
Depend on the SOEs. Transporation SOEs are operate at a net loss for example. Some however are profitable.
@@phongnguyen-we8fu China's SOE "state owned enterprises" should be called "Socialism Owned Enterprises". They control the majority of the most important commodities for a country, food and energy, etc., keeping it affordable for the masses, thus keeping inflation really low 1.7%. I wouldn't be surprised if there are some corruption but it's working very well. Compare to the capitalist west where private enterprises own land, food and energy and they could care less if your energy and food bills are too high. In fact, they took out food and energy in their "core inflation" figures lol. What a joke! Fools all the ïdïóts in the ŰŠ. But I am collecting huge ridiculous dividends from my energy stocks lol, ET EPD AM (25%+ yield on cost). So I could care less if I have to pay $6 per gallon for gasoline in the ŰŠ. It works for capitalists and investors like me, but not for the 99%...
@@peanut0brain goto interactive broker and open an account you can buy China state bank shares on Hong Kong stock exchange some are at 7/8 % dividend rate
Comprehensive analysis! Your content is always clear and simple. I used to tell people this but they refused to understand.
BRAVO, BRAVO!!! Brilliant episode of GER, exceptional teaching and GLEEFUL learning on my part. I need to watch it again just like I have re-read really good books, to do the brilliance justice.
Really good analysis Ben. So dense I had to watch it twice.
Thank you Ben! Me and my brother enjoy all your videos. Saludos desde México
Superb rundown! The look on the other panelists' faces while Louis Saint-Gauve talked about definitions of winning is priceless! Thank you for this, Ben.
Wow, what a brilliant presentation.
Thank you Ben Norton for educating and sharing your economic and geopolitical knowledge with us.
You are simply the best, bar none.
Thank you, thank you Ben Norton.
👍👍👍
This is my second video of yours I’ve watched today. Thank you for putting in the hardwork, sir.😊
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You never discussing
1- Chinese real-estate bubble 🤷
Real estate contributes almost 30% of the country's GDP.
2- never compare China labour laws with US
Workers in many Chinese factories toil for more than 80 hours a week for low salaries, going hours without breaks.
I think you forgot the Foxconn factory.
3- 22 Feb 2024 - More than 37,000 Chinese citizens were arrested for illegally crossing the southern border of the US in 2023. ( Al-Jazeera )
so what do you want to explain?
It's like asking...
How can America be Capitalist when they have welfare and pension?
Excellent piece of work. The mistake many make is not understanding the thinking and principle of the Chinese market in relation to socialism.
4:20 The economy of the soviet union was not entirely planned, at any point of it's existence. Markets always existed, for consumer goods. They did planned the production and refining of raw materials, but the limiting factor was pen and paper planning and computing power from that era (and the Kantorovich model used for planning, he successfully managed to plan a paper mill properly but a whole economy have like 10000-20000 inputs in the linear equation depending on the country). Paul Cockshott have written about this.
Also, it would be good to see a comparison of China's crime rates with those of the U.S.
What are the numbers of shootings, robberies, assaults, rape, mass shootings, etc. It would be very revealing tp expose which economic and cultural system is more conducive to living well..
Do we include crimes committed by the government?
Do the 20 million people in concentration camps count as a crime?
Is the population of G@z@ 20m?
Or is the population of occupied Kashmir 20m?
Can you be more specific?
Maybe tell us about why 60% of the population in cities of little-India lives in slums.
@@user-zu5do6ri6r And where did your "20 million people in concentration camps" come from? Solid evidence and proof required - not from some hearsay, third-party gossip columns and conflated made up reports from secret foreign agencies with a hidden agenda, please.
@@user-zu5do6ri6rdo we take in to account the war crimes the western governments have committed over the 40 years or so!!
Taiwan is still not a country because they claim China is part of Taiwan in UN till Taiwan lost their seat.
One of the best Geopolitical Economy reports yet! Makes me less upset to see rapidly unraveling before us the capitalist system, in the West and in the US, that is all that we in the West know, and have been trained to say is indisputably superior. Were it not for the fact that these are our countries, the places where we live and where our fortunes and fates are invested, there would otherwise be nothing to mourn here. The setting sun over the Faded
Empire that is Late Capitalism is, really, a good thing for the world. It’s an immoral, predatorial system that needs to end, one that is cracking and collapsing under it’s own top-heavy weigh, and one that is rapidly nearing the point of terminal implosion. Unbridled, insatiable, murderous greed is driving it over the precipice, as it should be.
Bravo Ben. What a lucid, fearless, and honest analysis. What a wonderful presentation for a county ravaged and subordinated by western and Japanese militarism. You leave me in greater admiration for Chinese socialist tradition. Thank you.
I have been reading the works of Mao and was struck by the frequent favourable mention of free enterprise, democracy and "other parties". Yet all in the context of discussing socialism and communism. The idea that communism has no room at all for capitalism is a western one. Mao understood that communism in China had to coexist with a world of capitalists and other ideology. He was insistent on coexistence and cooperation. The west often portray men like him as Idealists who were impractical. It's true that im his latter years, others who were intellectual pygmies hijacked the political stage and almost totally wrecked China. But Deng and Zhou who, no doubt, had endless discussions with Mao were able to bring it back on track. Now, Xi has shown himself as intellectually acute as Mao himself, as we have seen, carried on his legacy.
Thank you so very much Ben Norton!
Brilliant Video Ben...!
👏👏👏
Evergrande was mainly Foreign Investors trying to make Money for Wall Street etc in Pension Fund investments thinking there would be next to no risk.
Now all the failed Properties are being sold to Chinese families to live in.
Chinese Couples were separating so that each could buy a Property each...then remarry and let 1 Investment Property out!
Chinese people can now buy homes at affordable prices, buy Furnishings etc instead of having to live with Parents plus have more Children and space for them.
If the same real estate collapse is to happen in Western Capitalist dominated societies, the entire society will collapse into a rubble overnight - as we have seen what happened in the U.S. Sub-prime Mortgage predatory lending which led to the Global Financial Crises.
Evergrande, came to mind. Then I saw your comment. Thanks for clearing it up for me.
I have great respect for morally principled, knowledgeable, critical thinking and brave ppl like Ben Norton and Daniel Dumbrill.
They are the examples of the light of humanity. When spelling "humanity", ppl should understand that we should strive to be Earthians for a sustainable peace instead of being tribal, one of the main root cause of conflicts.
Sir, I've been watching a lot of the channels, and it's all about you being more professional and objective than many economists
Informative and entertaining. Eye opening. Ben, you deserve an award for your work.