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Soros’ Dream: To Turn China Into a Neoliberal Grabitization Opportunity
In a Financial Times op-ed, “Investors in Xi’s China face a rude awakening” (August 30, 2021), George Soros writes that Xi’s “crackdown on private enterprise shows he does not understand the market economy.
… Xi Jinping, China’s leader, has collided with economic reality.
- Michael Hudson
- CounterPunch
His crackdown on private enterprise has been a significant drag on the economy.”
Translated out of Orwellian Doublethink, the “crackdown on private enterprise” means cutting back on what the classical economists called rent-seeking and unearned income.
As for its supposed “drag on the economy,” Mr. Soros means the economy’s polarization concentrating wealth and income in the hands of the…