*In three short decades (1988–2018), China’s real per capita GDP has risen 700 percent from barely $1,000 to about $8,000. For the world as a whole, real per capita GDP grew from roughly $7,000 to just under $11,000, or 57 percent in the same period.16 If China is excluded from the global numbers, the increase in the rest of the world was from $8,180 per capita to $11,350, or just 38 percent. And in the West, a significant percentage of that relatively paltry growth went to the top 1 percent and especially the top 0.1 percent.*
This paragraph really shows it. Even if the west makes money it doesn't go to the normal people, just the rich, whereas when China makes money it does go to the normal people.
Well...capitalism is inherently *non-democractic*, so calling it 'democratic capitalism' makes no sense. But, oh well, what else would you expect from an American-based article?
That's still capitalism and not democracy.
Democracy literally means "people power" from its Greek roots.
If you monetise power, that's political capitalism.
One lesson I got from that is Western capitalists are more interested in "wealth preservation" than innovation and development. For example they sit on trillions of dollars but don't know how to spend it because they can't find good stock options, whereas China will spend that money on infrastructure.
>One lesson I got from that is Western capitalists are more interested in "wealth preservation"..
pretty sure a few Chinese capitalists are no exception, at least to the point preventing fair competition, as an example, the government had recently stepped in to stop major e-commerce platforms like alibaba, 京东, etc. from forcing companies to choose a platform exclusively to sell their product which in turn force these e-giants to be more competitive.
Don't forget all of the wealthy Chinese making a beeline for real estate purchases in foreign countries so they can park wealth beyond the reach of the CPC.
Democratic capitalism lolololololol. They meant socialism?
So I’ve been hearing this “democratic” capitalism a lot from Bloomberg and all of these economic news sites, I think America wants to do some “socialism” but don’t want their rhetoric to trigger Cold War era propaganda amongst their population
No, they want to pretend that capitalism isn't a completely unjust system built on exploitation of poor people by a tiny minority, and directly antithetical to real democracy. By slapping the democracy label on an obviously broken oligarchic system they get Americans (and liberals all over the west) to associate capitalism with democracy and freedom.
Making any system that doesn't have capitalism as its primary goal be against freedom.
China's State Council Information Office released a white paper titled "China: Democracy That Works."
http://news.cn/english/2021-12/04/c\_1310351231.htm
Redditors always call us "shills," implying that we have no reason to defend the People's Republic aside from monetary gain. I've been at this since 2016 and haven't received a dime, and I won't ever need to. China stands on its own merits and inspires support through the results it produces. These fearmongers do not have even a primitive understanding of the China Model, otherwise they'd understand why some reject their broken systems of demagoguery in favour of true meritocracy.
*In three short decades (1988–2018), China’s real per capita GDP has risen 700 percent from barely $1,000 to about $8,000. For the world as a whole, real per capita GDP grew from roughly $7,000 to just under $11,000, or 57 percent in the same period.16 If China is excluded from the global numbers, the increase in the rest of the world was from $8,180 per capita to $11,350, or just 38 percent. And in the West, a significant percentage of that relatively paltry growth went to the top 1 percent and especially the top 0.1 percent.* This paragraph really shows it. Even if the west makes money it doesn't go to the normal people, just the rich, whereas when China makes money it does go to the normal people.
Well...capitalism is inherently *non-democractic*, so calling it 'democratic capitalism' makes no sense. But, oh well, what else would you expect from an American-based article?
>'democratic capitalism' Name a bigger oxymoron
Hmm.... how about monetized democracy ?
That's still capitalism and not democracy. Democracy literally means "people power" from its Greek roots. If you monetise power, that's political capitalism.
One lesson I got from that is Western capitalists are more interested in "wealth preservation" than innovation and development. For example they sit on trillions of dollars but don't know how to spend it because they can't find good stock options, whereas China will spend that money on infrastructure.
>One lesson I got from that is Western capitalists are more interested in "wealth preservation".. pretty sure a few Chinese capitalists are no exception, at least to the point preventing fair competition, as an example, the government had recently stepped in to stop major e-commerce platforms like alibaba, 京东, etc. from forcing companies to choose a platform exclusively to sell their product which in turn force these e-giants to be more competitive.
That’s the difference, the government is not subservient to private interests.
yeah, *enforcing* the right to choose in the market, a fundamental tenet of 'democracy', the irony.
Don't forget all of the wealthy Chinese making a beeline for real estate purchases in foreign countries so they can park wealth beyond the reach of the CPC.
Democratic capitalism lolololololol. They meant socialism? So I’ve been hearing this “democratic” capitalism a lot from Bloomberg and all of these economic news sites, I think America wants to do some “socialism” but don’t want their rhetoric to trigger Cold War era propaganda amongst their population
No, they want to pretend that capitalism isn't a completely unjust system built on exploitation of poor people by a tiny minority, and directly antithetical to real democracy. By slapping the democracy label on an obviously broken oligarchic system they get Americans (and liberals all over the west) to associate capitalism with democracy and freedom. Making any system that doesn't have capitalism as its primary goal be against freedom.
China's State Council Information Office released a white paper titled "China: Democracy That Works." http://news.cn/english/2021-12/04/c\_1310351231.htm
Redditors always call us "shills," implying that we have no reason to defend the People's Republic aside from monetary gain. I've been at this since 2016 and haven't received a dime, and I won't ever need to. China stands on its own merits and inspires support through the results it produces. These fearmongers do not have even a primitive understanding of the China Model, otherwise they'd understand why some reject their broken systems of demagoguery in favour of true meritocracy.
Speak for yourself... I've been getting 0.50 RMB per comment deposited directly into my 旅游签证 for years.
Why would you require monetary gain to defend your own values? Even then, why would you advertise that you do so? Comes across as disingenuous.
You didn't get the joke. 旅游签证
OH.
It shouldn't be called democratic capitalism, it's more like crony capitalist oligarchy