What do informed lbo people feel about contemporary china?
>
> China and Vietnam borrowed and refined the developmental state strategies
> invented by post-WW II continental Europe, Japan, Taiwan and South Korea.
> These countries invested heavily in education and technology, created
> welfare states or ensured egalitarian distributions of wealth, and most of
> all, disciplined capital. The state wasn't the executive committee of the
> bourgeoisie; the bourgeoisie was more like the executive committee of the
> state. China right now is rolling out a huge national broadband system,
> and owns major stakes in most of its leading industries. Another example:
> one third of the German banking system is publicly owned; Germany's
> powerful unions put a check on what capital can do. Germany's
> government-mandated renewable energy boom is another fine example of what
> developmental states can do.
>
>
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