by This is good! Michael Hudson says Soros and his boys are dissapointed that China did not follow Western neoliberalism and privatise everything, because they wanted to go in, grab the lot, and then engage in rent extraction like they did in Yeltsin's Russia. Money can be got cheap in the West when banks can create it out of thin air, so it's easy to raise the cash to buy everything up. This is winner take all capitaliam, unrelated to work or merit. With China’s increasing wealth, Western investors want some of the action… One of those investors is a bullish gentleman called George Soros, however the Chinese are acutely aware that with western investment comes inequality – so as Beijing begins to rethink how to do proper economic growth, we ask will China learn from Western mistakes? Ross
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This is good!
Michael Hudson says Soros and his boys are dissapointed that China did not follow Western neoliberalism and privatise everything, because they wanted to go in, grab the lot, and then engage in rent extraction like they did in Yeltsin's Russia.
Money can be got cheap in the West when banks can create it out of thin air, so it's easy to raise the cash to buy everything up. This is winner take all capitaliam, unrelated to work or merit.
With China’s increasing wealth, Western investors want some of the action… One of those investors is a bullish gentleman called George Soros, however the Chinese are acutely aware that with western investment comes inequality – so as Beijing begins to rethink how to do proper economic growth, we ask will China learn from Western mistakes?
Ross Ashcroft is joined by economist and author Michael Hudson to discuss the West's attempts to turn China Neoliberal.