RES: [lbo-talk] Keiretsu Capital

Alexandre Fenelon afenelon at zaz.com.br
Mon Jan 12 14:42:01 PST 2004


-----Mensagem original----- De: lbo-talk-admin at lbo-talk.org [mailto:lbo-talk-admin at lbo-talk.org]Em nome de jjlassen at chinastudygroup.org Enviada em: domingo, 11 de janeiro de 2004 21:24 Para: lbo-talk at lbo-talk.org Assunto: Re: [lbo-talk] Keiretsu Capital

DDR-

China is not growing a hothouse developmental state. What's happening IMHO is that a class of owners/controllers - itself a product of the 'hothouse' of the reforms of the past 20 years - is busily dismantling the *previous* developmental state that brought about the most incredible increases in human longevity, literacy, poverty reduction, etc., even experienced among a population as large as China's. All of the 'positive' and 'progressive' things about developmental states - fantastic rates of industrial growth, lifetime employment, a corporatist labor regime, control over financial capital - were all realized under the CCP but are now being dismantled. The whole tenor of the reforms has been to get everything possible *outside* of state control, and this continues to this day. Millions continue to be laid off from SOEs every year, their assets are sold off to private investors, big Wall Street firms are involved in the disposal of billions in 'bad assets', and even the state banks now want to list on overseas markets! Furthermore, the inviolable right of private property has now been enshrined into the constitution with an amendment, and put on equal footing with state property. This is not the work of a social formation in the midst of forging a developmental state, but its opposite.

-I feel you´re right...I think China went too far with their NEP. Maybe that´s -is the trouble with NEP´s, the elite starts to confound the concessions made -to capitalism in the best interest of their country with their own immediate -interests.

Taiwan's developmental state has also been hollowed out from within and without.

-Could you elaborate better? I´m interested in your reasoning.

Also, inequality in China is much worse than in the US, and rapidly getting worse.

-Last statistics I have point to similar levels, but as you say, in China -unequality is increasing much faster. While USA had an increase from 33 -to 40 (or 36 to 45 depending on the measurement you use) in 30 years, China -went from 14 to 40 in the same time.

Alexandre

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