Posted on 11/07/2013 1:26:41 AM PST by Cincinatus' Wife
President Xi Jinping vowed last month that country would break free of the "middle income trap", the fate of countless states in Latin America and around the world after their catch-up booms in the 1960s, all failing to make the switch in time to a grown-up growth model.
The Plenum will deliver a "profound revolution". It will rival the Third Plenum of Deng Xiaoping in 1978, the moment when China turned its back on Maoist autarky and unleashed the creative forces of the market, lifting 500m people out of poverty.
The reforms will, in theory, break China's destructive reliance on investment - a world record 49pc of GDP - and allow the hard-working Chinese people to enjoy a less miniscule sliver of what they produce. This will reduce China's excess manufacturing capacity over time, and therefore China's trade surplus. Everybody will be happier, except the Communist Nomenklatura. That, at least, is the story.
Yet at the same time Mr Xi is tightening the grip of the Party, reviving the Maoist "mass line" and rectification campaigns of the Cultural Revolution. "All his reflexes are Leninist," says Professor Minxin Pei from California's Claremont McKenna University. Mr Xi wants to have it both ways.
(Excerpt) Read more at telegraph.co.uk ...
We are fast on our way to a similar realization. As our freedom is draining away under the Obama regime, so too is our affluence.
At least their communists want affluence, ours want involuntary servitude, a return to caveman existence and death panels.
“......and allow the hard-working Chinese people to enjoy a less miniscule sliver of what they produce.”.........
Thanks Cincinatus’ Wife.
China is a big red (haha) warning sign that the “equalists” are still a bunch of willfully ignorant mayfly-minds.
They’ve around a THOUSAND YEARS to get past the model of ‘millions of powerless peasants at the whim of a king/queen or a handful of top brass’. The only difference between then and now is that the oligarchs traded in their crowns and trappings and have the peasants making Iphones at slave wages instead of farming. Within living memory their nation was run by aggressive Communists instead of passive ones, and the body count ran into ‘Hitler was an amateur’ territory.
They had a very real opportunity to become the next Rome and rule much of the known world, possibly including some of Europe which at the time was mostly run by inbred and incompetent fops. Their version of ‘conservatives’ went isolationist to shock Ron Paul, ordered their navy BURNED, and blew that chance right out the window.
Um, I hate to break the news to everyone.
But EVERYONE in America’s businesses, is on China’s side.
GOP. Dems. Everyone.
I know there are a tiny few of us out here pointing to the catastrophe approaching.
But not many.
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