Russia's Leaders See China as Template for Ruling
New York Times ^ | October 17, 2009 | CLIFFORD J. LEVY
MOSCOW — Nearly two decades after the collapse of the Communist Party, Russia’s rulers have hit upon a model for future success: the Communist Party.
Or at least, the one that reigns next door.
Like an envious underachiever, Vladimir V. Putin’s party, United Russia, is increasingly examining how it can emulate the Chinese Communist Party, especially its skill in shepherding China through the financial crisis relatively unbowed.
United Russia’s leaders even convened a special meeting this month with senior Chinese Communist Party officials to hear firsthand how they wield power. ..."
“The accomplishments of China’s Communist Party in developing its government deserve the highest marks,” Aleksandr D. Zhukov, a deputy prime minister and senior Putin aide, declared at the meeting with Chinese officials on Oct. 9
(Excerpt) Read more at nytimes.com ...
Financial Times ^ | Published: January 29 2010 21:06 | By Krishna Guha in Washington
Russia proposed to China that the two nations should sell Fannie Mae and Freddie Mac bonds in 2008 to force the US government to bail out the giant mortgage-finance companies, former US Treasury secretary Hank Paulson has claimed.
The allegation is in his memoir On the Brink in which he also suggests that Alistair Darling, the UK chancellor, blocked a rescue takeover of Lehman Brothers by Barclays Bank when he refused to support special treatment by UK regulators.
“Russian officials had made a top-level approach to the Chinese, suggesting that together they might sell big chunks of their GSE holdings to force the US to use its emergency authorities to prop up these companies,” he said.
Fannie and Freddie are known as GSEs or government sponsored enterprises.
“The Chinese had declined to go along with the disruptive scheme, but the report was deeply troubling,” he said. A senior Russian official told the Financial Times that he could not comment on the allegation.
Separately, Mr Paulson makes it clear that he believes that Mr Darling prevented a takeover of Lehman by Barclays out of fear that it would endanger the UK bank.
Mr Paulson said that Mr Darling telephoned him on Friday September 12 – as the US authorities were scrambling to find a buyer for Lehman – to express concern about a possible Barclays deal. Mr Paulson said that he did not realise at the time that this was a “clear warning”.
(Excerpt) Read more at ft.com ...
Well China is more capitalist than us too. To the Chinese, unlike our intellectuals, Karl Marx is a joke.