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this post was submitted on 08 Nov 2024
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What an odd thing to wonder. Do you see Chinese state functionaries tooling around the world in megayachts?
What does a house have to do with a yacht though? Not everyone sails the open seas.
China is the second country in the world by number of billionares. In europe cinese businessmen with ties to the government have been buying football clubs and luxury shit for a decade.
Unlike in capitalist states[1][2], the Chinese billionaires don’t run the Chinese state[3][4].
Wow that website! The way it does the links to references as you scroll is so responsive and smooth. EDIT: This is an amazing read, thank you for sharing this!
Marxists do be extremely particular, haha
A "curious approach on billionares" sound much like billionares apologia to me. China has greedy vermin billionares like the rest of the world. A quick search for "chinese megayachts" will show what you are looking for.
Since you’re not going to actually read it, I guess you’ll never know.
I didn’t say there aren’t billionaires with megayachts, I said, “Do you see Chinese state functionaries tooling around the world in megayachts?”
And i didn't ask how many megayachts the guy own i asked how many houses he own. You don't really get to see state functionaries of any state tooling around in megayachts because they all try to keep a low profile, see putin and his proxy yachts.
They aren't perfect, and as stated elsewhere they are in a period of Dengist based socialism. However, they are extremely successful, very popular within their country from all sources that could be called evidence (especially compared to the US government), and do far less to acquiesce to the billionaires compared to West, seemingly (charging and sentencing billionaires for corruption, cracking down on financiers, etc). I think another user had a good point too about looking at the amount they have per capital.
They are the most successful nation practicing a form of socialism in the modern world and offering an alternative to liberal capitalism.
There's a reason it's called critical support.
But they aren’t buying them in china so it doesn’t count. ;)
In china they are probably buying chinese football teams and skyscrapers, i don't live there.
Those are parks and monuments, they aren’t meant to be occupied silly ;)
Wasn't there a huge scandal with Evergrande surrounding just how much of Chinese requirements were tied to real estate? Doesn't that directly contradict what Xi saying here?
Not to mention, China has its own homeless problem - let's not act like they're doing so much better.
Yes, which is why the Chinese state intentionally popped the real estate bubble and left the capitalists out to dry.
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Compare that to Obama, who bailed out the private banks at the expense of people with home mortgages, banks that knowingly wrote those bad mortgages. Michael Hudson, 2023: Why the Bank Crisis isn’t Over
The Federal Reserve is just the cartel of the US private banks, whereas banking in China is predominantly state owned. The Chinese state both runs these banks and has fiat monetary sovereignty, so it’s not answerable to the capitalists like the US is.
Bonus info on fiat monetary sovereignty: Why The Government Has Infinite Money
[Citation needed]