Going well beyond curbing tech giants, he wants the Communist party to steer flows of money and set tighter limits on profit making, his speeches show and officials say. More turbulence for foreign businesses is likely.

:xi-clap: China haters aren't going to be able to cope

Archive: https://archive.is/2021.09.20-203459/https://www.wsj.com/articles/xi-jinping-aims-to-rein-in-chinese-capitalism-hew-to-maos-socialist-vision-11632150725?mod=flipboard

  • space_comrade [he/him]
    ·
    3 years ago

    I call it a government-steered economy

    Damn I wish there was a word for this, it's kind of a mouthful. Really strange how nobody thought of a name yet.

    • bananon [he/him]
      ·
      3 years ago

      Sorry sweaty that’s called state capitalism and that makes Xi basically Hitler 💅

    • pooh [she/her, any]
      ·
      3 years ago

      In China's case I think it will also involve more advanced economic planning and use of AI. Their AI plan is pretty interesting if anyone here hasn't seen it: https://archive.is/ybreT