Posts tagged ‘China’
China is ruled by a Communist Party, and has been for seven decades—but it’s a “Communist” party more committed to international free trade and globalisation than many major pro-capitalist parties in the West. The state controls all of China’s most important industrial sectors and the financial system, and treats the private sector as a tame subordinate—yet China is producing new billionaires faster than anywhere in the world, has only the shadow of a welfare state and produces more consumer commodities for massive corporations like Apple and Honda than any other country. What kind of a society is this, that so freely and easily mixes the features of a capitalist market economy with an old-school Stalinist dictatorship?
(Spoiler: It’s a state capitalist one 😉)
When I’ve been to Europe, I’ve been impressed by the tiny, zippy cars they have seemingly everywhere – so much better for navigating narrow streets or squeezing into parking spaces. This article is about the booming, if not-strictly-legal, industry for them in China. Interesting stuff!