- cross-posted to:
- economics@lemmy.ml
Another proof China didn’t “surrender to the US” It reminds me of the '29 crash, the USSR for the most part didn’t suffer it
The Great Recession also forced the CCP to reassess the model it would structure its financial system around. The crisis revealed a more volatile and risky face of Western banking. Leading government-affiliated scholars became increasingly skeptical of a market approach to finance, which they saw as driving financial instability in the United States and Europe.
“Seeking truth from facts,” as Deng himself said.
These policy choices have led to a financial system with more immunity to the problems facing the United States and Europe… But that protection comes with its own costs.
Every single time, lol
Sure your economy is stable… but our billionaires are making a killing right now and yours aren’t 😏
“Nice of you to mention “billionaires” and “killing” in one sentence, because yes, something like that is happening”
Ultras will still claim China is part of the same extractionary financial capitalism as the west
Insulated from capitalism.
😄
😉