Geopolitical Economy Report
Geopolitical Economy Report
Ben Norton
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How can China be socialist if it has a stock market? Understanding the Chinese economy
52 minutes Posted Jul 3, 2024 at 11:00 pm.
Intro
Deng Xiaoping & China's "Reform & Opening Up"
Socialism with Chinese Characteristics
China's economic growth & poverty reduction
How state-owned enterprises (SOEs) run China's economy
Chen Yun & the "birdcage economy"
SOE share of China's GDP
China's largest companies are SOEs
Socialist market economy
"Grasp the large, let go of the small"
"Managed competition" in China
Billionaires in China
China's stock markets
(Clip) Western financial analyst says China rejected Washington Consensus
(Clip) Bloomberg complains "China doesn't care about the stock market"
Differences between US & Chinese economies
(Clip) Investor explains China's stock market is not priority for government
China's economic policy is made for workers, not investors
US financialized capitalism vs. Chinese socialism
US stock market is 60.5% of entire world
Richest 10% of Americans own 93% of stocks
Global oligarchs hold wealth in US stock market
China's pursuit of "common prosperity"
Outro
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52:00
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Show notes
China describes its system as a "socialist market economy". How does that work? What is the role of its stock exchanges? Ben Norton explains Socialism with Chinese Characteristics.
VIDEO: https://www.youtube.com/watch?v=M4__IBd_sGE
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