The point I like is that China is just doing a better version of the "authoritarian" capitalism that everyone else is doing in secret. Like instead of Facebook rating your social status behind the scenes, it is the communist party doing it out in the open. If this is true, does this have to do with the wild success China has experienced lately? Michael Hudson would say yes but there are also many ad-hoc reasons. One of the reasons for 'yes' is that China regulates financial capital while letting industrial capital thrive. Not every country can do this; arguably China can only do this because other countries do the finance, but those countries still need manufacturing. Regulating finance would be an example of the "authoritarian" nature of Chinese capitalism.
The point I like is that China is just doing a better version of the "authoritarian" capitalism that everyone else is doing in secret. Like instead of Facebook rating your social status behind the scenes, it is the communist party doing it out in the open. If this is true, does this have to do with the wild success China has experienced lately? Michael Hudson would say yes but there are also many ad-hoc reasons. One of the reasons for 'yes' is that China regulates financial capital while letting industrial capital thrive. Not every country can do this; arguably China can only do this because other countries do the finance, but those countries still need manufacturing. Regulating finance would be an example of the "authoritarian" nature of Chinese capitalism.