CCP Reimagines Wealth
A small village in 1045 B.C. became a very large but very poor city in the 20th Century A.D. Then in 1970 (give or take) President Richard Nixon - on behalf of U.S. industries - went to China to convince the communists to join the world. Wealth replaces communism. Ho ho.
We share what we read this week. "For decades the CCP sold the people a false promise: 'Leave the power to us, ask no questions, and we will make you richer than your parents could have imagined.' Who could have imagined Beijing, 22 million residents and about every modern activity known to man."
"Living standards did rise - not by central planning - but because the Party loosened its grip on the economy. Western capital, technology and markets resulted in more wealth - and the Party took the credit. Even as business - not government - brought more wealth, the Party has jailed critics, crushed dissent, and persecuted communities not interested in politics. Those with rising living standards consent."
Then Comes a Depression
"Money is running short. Growth is fading, prices are falling, jobs for the young are scarce, and the wealthy are quietly moving their savings abroad." Views read that many young people are leaving Beijing.
"So, Xi Jinping is rewriting the deal, analysts have said. Instead of rich, he offers the promise of getting even: the assurance that China has risen equal of the United States, and that the 'rejuvenation of the nation, and the absorption of Taiwan, is within reach.'"
PS. Let's not be fooled by communists running in our elections.
Jimmy