Much of China’s prosperity is deeply integrated with the global neoliberal free market and China was able to leverage its vast reserve of cheap labor (blessed by the United States wanting to export its own manufacturing base to crush its working class movements at home, back in the 1970s) to bring material gains to its people.
China’s achievement is in its socialist policies that put people at the center, rather than the capitalists or the free market, and this allowed them to lift millions upon millions of people out of poverty and set the nation on a course towards prosperity.
The Soviet Union, on the other hand, was a genuine alternative (or at least attempted) to the Western-led capitalist system. The Soviet Union was more or less a self-contained entity and largely self-sufficient, and did not rely on foreign export markets for economic development and growth. The workers in the Soviet Union enjoyed working conditions and social welfare that were on par with Western European social democracy, if not better.
Unfortunately the same cannot be said for China today - the working conditions, especially for the 300 million migrant workers in the coastal cities, are still distances behind what the Soviet Union was capable of achieving decades ago.
And this brings me to a central point I have been saying many times on this site: de-dollarization is truly the most important first step, the pre-requisite towards the formation of an alternative system that can challenge the US/Western-dominated neoliberal capitalism. The pervasiveness of the dollar regime throughout the world means that everyone is at risk of losing if the empire crumbles. China cannot just sit back and wait for the US to fail. It needs to pro-actively decouple itself before it is too late.
China is not the same as the Soviet Union.
Much of China’s prosperity is deeply integrated with the global neoliberal free market and China was able to leverage its vast reserve of cheap labor (blessed by the United States wanting to export its own manufacturing base to crush its working class movements at home, back in the 1970s) to bring material gains to its people.
China’s achievement is in its socialist policies that put people at the center, rather than the capitalists or the free market, and this allowed them to lift millions upon millions of people out of poverty and set the nation on a course towards prosperity.
The Soviet Union, on the other hand, was a genuine alternative (or at least attempted) to the Western-led capitalist system. The Soviet Union was more or less a self-contained entity and largely self-sufficient, and did not rely on foreign export markets for economic development and growth. The workers in the Soviet Union enjoyed working conditions and social welfare that were on par with Western European social democracy, if not better.
Unfortunately the same cannot be said for China today - the working conditions, especially for the 300 million migrant workers in the coastal cities, are still distances behind what the Soviet Union was capable of achieving decades ago.
And this brings me to a central point I have been saying many times on this site: de-dollarization is truly the most important first step, the pre-requisite towards the formation of an alternative system that can challenge the US/Western-dominated neoliberal capitalism. The pervasiveness of the dollar regime throughout the world means that everyone is at risk of losing if the empire crumbles. China cannot just sit back and wait for the US to fail. It needs to pro-actively decouple itself before it is too late.