The top four fastest growing economies since the neo-liberal “Washington Consensus” was put forward all follow, or are highly influenced by, China’s development model. These countries are China, Vietnam, Cambodia and Laos. In contrast, capitalist development models, including the Washington Consensus, have been a failure. Pro-capitalists in China would clearly prefer these facts to be generally unknown since they damage the idea that China should abandon its socialist path of development and adopt a capitalist one.
Excellent article.
I recently had an exchange where a Yankee told me that China is in dire economic straits because of the fact that their economic growth has slowed.
That’s because of the pandemic and the CPC has explicitly abandoned their economic targets for the year in order to prioritize the wellbeing of the people of China and to implement the best COVID mitigation strategy they can
Their economic growth has “slowed” from often double-digit annual growth to a mere 6.5% approximately
As economies develop and mature, it becomes a mathematical improbability to be able to maintain such a staggering rate of growth consistently, if at all
The last time America reached 6.5% growth was back in the 60s (from memory) and these days it can only muster 3 or 4% when recovering from a prior economic downturn, but it effectively only manages to muster roughly 2%, especially when this is averaged out
It seems like US exceptionalism literally knows no bounds - not even hard economic data can restrain it.
Btw I’d also like to see much more investigation into Laos and Cambodia but I think I’m stuck the western bubble :/
Interestingly enough: someone found a documentary about Laos, but I lost it after I left Discord for a while, I think. Cambodia is interesting. I got one on what’s going on in Thailand though…
Gonna post the thread right now.