I haven’t read the article, but China (including Xi Jinping specifically) has signaled repeatedly that this is the way they’re going to go. As always, it’s a “wait and see” when it comes to China, but they’ve done the right thing so far. If they could just push further, they’d be unstoppable.
Yup, I’m fairly optimistic about China based on what they’ve been doing recently. It looks like they have tangible plans to continue reducing private sector and to further transition towards public ownership of the economy.
Yes, though I imagine that they’ll be experimenting more with other forms of governance and economy and that the private enterprises will start to be “less private” in the sense that they’ll slowly but surely be adsorbed into the orbit of the government. Of course, socialism is not “when the government does stuff” and I imagine that they’ll still use “market mechanisms” here and there, but for the most part, I think it’ll be as you say.
I’m fairly confident about the prospects of countries like China, Laos, and Vietnam; more worried about Angola than I am with those countries.
Right, I’m less concerned with whether private ownership exists or not. The real question is whether the state that represents the people is in charge or the capitalists are in charge. Given what China’s been doing it’s pretty clear the former is the case. State directs enterprise, it controls most of the financial sector, and it’s able to nationalize companies at will.
Precisely.
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