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Yogthos
Yogthos
@yogthos@social.marxist.network  ·  activity timestamp 4 days ago

Xi’s directive establishes a socialist financial architecture where capital serves production rather than speculation. Rejecting Western financialization that concentrates wealth during crises the CPC uses the Eight Upholds to subordinate finance to national goals. China’s ascent to global industrial dominance proves that a socialist command economy is a superior alternative to neoliberal capitalism.

https://dialecticaldispatches.substack.com/p/financial-development-with-chinese

#china #economy #socialism

Financial development with Chinese characteristics

A speech by Xi Jinping was recently published along with a commentary piece. The speech has been widely quoted in Western media these past few days because it includes a clear call for the renminbi to “attain global reserve currency status.” As is often the case Western media are ignoring the thrust of the speech and reducing it to a crude challenge to the dollar.
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