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China as Fiefdom – Prime Minister Now Extraordinarily Rich

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[UPDATE:  The Chinese government is now blocking web access to the NY Times as a result of this article cited below.]

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We all know that the Chinese Communist Party owns companies that constitute the majority of GDP there.  They are called state-owned commercial enterprises (SOEs).  But its not the government so much as the Party.

Some don’t like Fannie Mae being owned by the government.  Just imagine if the Democratic Party owned it, under the protection of the actual federal government.  Or if the Republican Party was the owner of the Tennessee Valley Authority with a government granted monopoly.  That’s China.

That’s why our “free market” and “free trade” thinking does not and cannot apply there.  That’s why free trade does not and cannot work with China.

And party officials get very, very rich.  Chinese Prime Minister Wen Jiabao is Exhibit A.

BEIJING — The mother of China’s prime minister was a schoolteacher in northern China. His father was ordered to tend pigs in one of Mao’s political campaigns. And during childhood, “my family was extremely poor,” the prime minister, Wen Jiabao, said in a speech last year. …

 A review of corporate and regulatory records indicates that the prime minister’s relatives, some of whom have a knack for aggressive deal-making, including his wife, have controlled assets worth at least $2.7 billion.

I have said that China has a right to protect its national interests… and that the U.S. can and should protect our interests, though we don’t.  However, its really the Communist Part of China, the leaders, and their families protecting their interests.  They should not have the right to do that.  It is crony capitalism enabled by communist dictatorship.  It is modern medievalism.  It hurts their country.

And it certainly hurts our country.

When will the U.S. Chamber of Commerce and Club for Growth stop protecting the Chinese party leaders’ interests in enriching Wen Jiabao’s family?

4 Responses to “China as Fiefdom – Prime Minister Now Extraordinarily Rich”

  1. Joe Brooks says:

    “However, its really the Communist Party of China, the leaders, and their families protecting their interests. They should not have the right to do that. It is crony capitalism enabled by communist dictatorship. It is modern medievalism.”

    What Communism really is, in a nutshell.

    A. E. van Vogt, in his work dissecting Communism and Chinese Communism specifically; “The Violent Man” speaks of powerful retrogressive forces at work in the world.

    Basically, the destruction of the gains achieved by Western Civilization and the early USA.

  2. Jim Cochran says:

    Crony Socialism — is the better description of what happens when socialist practice central planner captialism or facism.

  3. Will Wilkin says:

    Well there are certainly a few capitalist billionaires over here in the west, how much difference is it really that here the billionaires through their corporations have to purchase the 2 parties to get them to run the country on their behalf.

    IfI were a Chinese citizen I wouldn’t like the huge inequalities of wealth and power in China. But as an American citizen, I don’t like the vast inequalities of wealth and power in the USA. As an American, it is not my business or right to agitate for change in how the country is governed, to demand they change, etc. Just as Chinese citizens have no business agitating for American reform.

    As an American citizen, I demand that our government run our country on behalf of ALL our people, not just the global corporations owned by the 1% who have staked their fate with those corporations rather than with the fate of our country, meaning the long term prosperity of our people.

    Capitalism, communism….getting too ideological about it blinds us to the similarities, blinds us to the pragmatic approach we should take if we care about solving the problems of our country and people. Solving those problems here at home would start with a MADE IN USA TRADE POLICY that aims to achieved balanced trade, it would include the industrial policy to reform our tax, regulatory and public investment policies to attract those industries key to prosperity in the 21st century, and it would include a FULL EMPLOYMENT POLICY to democratize the prosperity built by a revived manufacturing.

    Rather than being ideological about it, it would be a mixed economy measuring policy success by the general welfare and achievement of societal goals such as rebuilt infrastructure and rejuvenated education system and a culture of hard work and study, rather than ideological purity. The idea would be to unify the country as much as possible around shared national goals on which all our people can build their future together. It would replace the self-interest atomizing our country with the solidarity to turn the country into a team working together.

  4. Will Wilkin says:

    Oooops, in my last post, this “As an American, it is not my business or right to agitate for change in how the country is governed, to demand they change, etc.”

    should really say this:

    “As an American, it is not my business or right to agitate for change in how CHINA is governed, to demand they change, etc. “

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