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Reuters — China’s Xi says study capitalism, but Marxism remains top

Summary:
Communist Party members should study contemporary capitalism but must never deviate from Marxism, Chinese President Xi Jinping said... “If we deviate from or abandon Marxism, our party would lose its soul and direction,” Xi said. “On the fundamental issue of upholding the guiding role of Marxism, we must maintain unswerving resolve, never wavering at any time or under any circumstances.”Xi said the party should better integrate the basic tenets of Marxism with the “reality of contemporary China and learn from the achievements of other civilizations to create and develop Marxism”, Xinhua said.“Xi also asked Party members to study contemporary capitalism, its essence and patterns,” the report added.... Reuters China's Xi says study capitalism, but Marxism remains top Relentless efforts

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Communist Party members should study contemporary capitalism but must never deviate from Marxism, Chinese President Xi Jinping said...
“If we deviate from or abandon Marxism, our party would lose its soul and direction,” Xi said. “On the fundamental issue of upholding the guiding role of Marxism, we must maintain unswerving resolve, never wavering at any time or under any circumstances.”

Xi said the party should better integrate the basic tenets of Marxism with the “reality of contemporary China and learn from the achievements of other civilizations to create and develop Marxism”, Xinhua said.

“Xi also asked Party members to study contemporary capitalism, its essence and patterns,” the report added....
Reuters
China's Xi says study capitalism, but Marxism remains top
Relentless efforts should be made to adapt Marxism to China, to the era and to the public, President Xi Jinping, also general secretary of the Communist Party of China Central Committee, said on Friday.…

Xi said that as a party upholding Marxism, the CPC should make sure its theories keep up with the times.
Drifting away from or betraying Marxism will lead to the Party's losing its soul and direction as it moves forward, Xi added.
Marxism is unsurpassed in achieving great heights and having a huge influence, he said....
Since China has undergone remarkable changes following its reform and opening-up, Chinese are most qualified and capable of unveiling the lessons and natural laws behind such changes and of making original contributions to the development of Marxism, Xi said.
Party members should be self-conscious about and confident in the theory, focus on what they do, listen to what the people think, respond to actual needs and fully sum up the practices of socialism with Chinese characteristics, Xi said.
Additionally, the Party should continue improving its capabilities in analyzing and tackling issues by using Marxism, and continue strengthening its capabilities in addressing major challenges, risks, resistance and contradictions, he said.
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Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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