Monday , December 23 2024
Home / Mike Norman Economics / Zero Hedge — Corruption In China Risks A Soviet-Style Collapse – Party’s Graft Buster

Zero Hedge — Corruption In China Risks A Soviet-Style Collapse – Party’s Graft Buster

Summary:
The Chinese elite has recognized and acknowledged that the CCP has a corruption problem. Western elites, not so much. There is another interesting point made in the article. During the 19th Party Congress last month, Yang was asked about the anti-corruption drive and how to achieve a balance between human rights and party discipline. Yang replied that, having worked in the Tibet Autonomous Region for many years, human rights was an “interesting question”. He recounted a conversation he had with a US assistant secretary of state where he likened Abraham Lincoln freeing slaves in America to China’s actions in Tibet. “I said in the hearts of Chinese people, Lincoln is a hero, because he freed the slaves. On this point the Chinese people and the American people have the same

Topics:
Mike Norman considers the following as important: , , , ,

This could be interesting, too:

Robert Skidelsky writes Speech in the House of Lords on Watchdogs 9th of September

Barkley Rosser writes The Trumpification of Xi Jinping

Mike Norman writes Congress: War Profiteering Is Real. We Need To End It. Sarah Anderson

Mike Norman writes How the Supreme Court Is Rebranding Corruption — Ciara Torres-Spelliscy


The Chinese elite has recognized and acknowledged that the CCP has a corruption problem. Western elites, not so much.

There is another interesting point made in the article.
During the 19th Party Congress last month, Yang was asked about the anti-corruption drive and how to achieve a balance between human rights and party discipline. Yang replied that, having worked in the Tibet Autonomous Region for many years, human rights was an “interesting question”. He recounted a conversation he had with a US assistant secretary of state where he likened Abraham Lincoln freeing slaves in America to China’s actions in Tibet.
“I said in the hearts of Chinese people, Lincoln is a hero, because he freed the slaves.
On this point the Chinese people and the American people have the same understanding – this is a human rights issue.
In turn, we freed the serfs in Tibet, how come American friends cannot understand this? From Lincoln’s perspective, he should have supported China’s overturning of the serfdom in Tibet.”
No matter that the Central Tibetan Administration, usually called the “Tibetan Government in Exile” has a starkly different view….
This is really the crux of the issue between capitalism and socialism.

According to its proponents capitalism is the economic aspect of democracy and therefore integral to achieving freedom and human rights globally.

According to the proponents of socialism, the first step of liberation was freeing the slaves, the second step was freeing the serfs, and the third and final stage will be freeing workers from capitalists as the owners of the means of production.

It all depends on one's point of view.

Zero Hedge
Corruption In China Risks A Soviet-Style Collapse - Party's Graft Buster
Tyler Durden
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.

Leave a Reply

Your email address will not be published. Required fields are marked *