Charles, so egregiously wrong again.
^^^^ CB: It's not so clear that you are so right, though of course you are pure as the driven snow. ^^^
Cheap commodities are the pop guns with which the Chinese bureaucratic capitalist state earns dollar revenues, which in turn are invested in Barclays and Blackstone equity funds -- in essence aiding asset-stripping around the globe, before going bust. ^^^ CB: The rest of your sentence contradicts your claim that those commodities are pop guns. It's not capitalism with Chinese characteristics that is going bust.
The Chinese CP made the daring decision that China would have to go through capitalism in order to develop its productive forces adequately to reach socialism. Unlike petit bourgeois utopians like you, Marx didn't hold a moralizing attitude toward the objective necessity of going through the capitalist stage to prepare masses for socialism. See Ted Winslow's posts , for example.
^^^^^
And after all this, a prominent Chinese banking official declares:
"Except for US Treasuries, what can you hold? US Treasuries are the safe option. For everyone, including China, it is the only option."
Wall Street (where many Chinese financial and monetary authorities have worked for a spell) is quaking in its boots.
^^^^ CB: How else would they learn real capitalism except by working on Wall Street ? Again your moralizing about "doing" capitalism reveals a utopian, not scientific and Marxist, conception of the road to socialism. Engels was a capitalist, and Marx lived on some of the surplus got from cotton manufacturing workers in England. Gulick would have been wagging his finger at them for that.
Just like the capitalists who sold
to the communists ( who Lenin referred to in the joke) the rope weren't quaking in their boots. China is holding a trillion dollars in reserve and so far they aren't part of the world depression. You think that's
an accident. I'm not so sure. While financial agents smile in their faces on Wallstreet, "stripping" knowledge, the impact of the real Chinese economy (where the US capitalists have sold quite a bit of "rope" in recent decades) on the US economy kicks the chair out from under Wall Street, leaving it hanging ( See Fitch's article; and think about it a bit more deeply than even he does). The stock market has halved and the biggest Wall Street banks are insolvent. Is Wall Street quaking in its boots about that, "comrade" ?