aquascoot wrote on Jun 7
th, 2026 at 5:45pm:
What really impressed me was how capitalist they are.
That's a good point, everyone makes sure they can support themselves, eg, with youth unemployment c. 10%, you can still buy a quaility, yet cheap electric scooter with a carrier compartment on the back, and go to work delivering something to someone. China doesn't do 'welfare' ("sit down money"), rather it seeks to eliminate poverty.
A major hindrance to the implementaion of common prosperity is the PBofC's adherence to obsolete Western economic practice re taxes and debt, forcing the government to tax or borrow ....MMT is still illegal, though state ownership of strategic industry is the norm ...; China's vast productive capacity means the govt. can issue PUBLIC money for free while managing
resource mobilization to avoid inflation /deflation, rather than manipulating interest rates to control inflation.
Some top economists in China are aware of this; hopefully they will gain traction at the highest levels. (The free market isn't a religion in China as it is in the West, so financial rationality in govt. might yet prevail in China).
Xi discovered the limits of free markets when Evergrande blew up a decade ago, Xi now recognizes "houses are for living in, not for investment vehicles".
Quote:Go to school , finish in top 20 % free uni.
Finish in next 20 % 1/2 price uni.
Yes - but the official CCP policy of 'common prosperity' needs to apply to average citizens as well....
Quote:Any lower and mum and dad have to cop up cash.
That creates incentive to get yourself into the cream of achievement and the state will open doors for you.
Yes, but people with average abilities need to prosper as well.
Quote:Contrast that with our welfare state where we give massive NDIS to the dumb dumbs and do nothing for our elite achievers.
Yes, I mentioned 'welfare' aka "sit-down money" above. It's a disaster for individual morale, we all need to contribute according to our ability, but the competitive free market alone can't do it without welfare as a 'safety net'.
Quote:Like I said, the place is booming and has such momentum it will blow the west away.
Congrats to them on doing what we should have done.
Foster and support winners .
Inspirational
Yes, but Xi needs to avoid insane trade and geopolitical-based wars with the US which is desperate to maintain global hegemony in the face of the socalled "China threat".
China's economists hold the key to China's success ***, given our terrible "kill or be killed" world.***eg Bibi today says "Teheran must burn", despite the fact Trump wants S. Arabia to sign the Abraham accords, which they won't do so long as Israel is occupying the WB....
Xi seems determined to avoid war; the CCP could easily win hearts and minds in Taiwan if per capita GDP on the mainland surpasses, and is more equally shared on the mainland.
Taiwan's capitalist economy is a'one-trick pone' (TSMC); the mainland guided by "socialism with Chinese characteristics" can easiily create the world's most prosperous and least unequal economy on the planet, given China already has the world's most productive economy - which is what anyone sees when they visit China.
So - i'll let poor lee fester with his 'democratic' free market delusions, while Oz has the dubious distinction of having the most unaffordable housing in the world....and no support for the homeless....
But you (aquascoot) also need to refine your understanding of 'capitalism' ; it's fine at the individual level (get your electric scooter and go to work), so long as the state implments common prosperity (not 'welfare') at the macroeconoic level:
https://ellenbrown.com/2026/06/01/the-ai-revolution-where-capitalism-meets-socia...The AI Revolution: Where Capitalism Meets Socialism: The Abundance Paradigm, Part 2......
***(google AI)
China’s youth unemployment remains a critical structural crisis, with urban joblessness for ages 16 to 24 (excluding students) hovering around 16.9%. The crisis is driven by a severe disconnect between millions of university graduates and a sluggish economy struggling with real estate, local government debt, and weak consumer demand.Geez.... China has a currency-issuing government, they can fund job creation programs at no cost to taxpayers because China also has productive "overcapicity" ...how dumb can mainstream economists in China be?