So with the 1970s reforms the CPC allowed foreign companies and capitalism to come into the PRC, reducing the equality of workers with the owners, regressing closer to capitalism from socialism. These companies obviously exploit the Chinese workers to make giant profits. Even today there is a strong 996 work culture in the PRC. Does this amount to Chinese Revolution being exploited? I just feel uneasy about it.
minqi li was a student during 89 and, like many fellow students, took the liberal -> maoist pipeline in the immediate aftermath (the other half went full fash). he now works at university of utah as an economics professor in the wallersteinian tradition and has published several books regarding china’s current and future roles in the capitalist world system.
the tldr from him is that it’s not looking good and that the imperial core of the capitalist system was moving towards china pre-2019. this was in the process of causing a shitload of issues with regards to overproduction as well as the physical limitations of the biosphere that could very much have resulted in the final contradiction of capitalism.
but then covid happened after his last book and maoist hardliners and their policies got a big boost domestically and it’s currently too early to tell in which direction the country will go from here, so who tf knows?