On Tue, Mar 26, 2024 at 06:33 PM, Marv Gandall wrote: > > derive their wealth from their *ownership* of state assets
How important is it that Xi Jinping and the top layer of Communist Party of China officials build fortunes of hundreds of millions of dollars (which they must put into one and another kind of asset) by means other than outright ownership of state assets? The Chinese state run by these officials is devoted to the accumulation of capital. Within China, this entails ensuring that the economy is a commodity economy and that labor power is one of those commodities. Globally, it entails subsidizing and protecting the export of capital, finding markets at the expense of established monopoly capitalists, and grabbing the raw materials of weaker countries. What is the most important thing about Jamie Dimon of JPMorgan Chase: that he acquires personal wealth when his board grants him share options, or that he along with U.S. state officials act to the same ends as just listed for Chinese officials? The answer is, I trust, obvious. To set up as a big criterion whether someone "derives their wealth from their ownership of state assets" is no way to understand the motion of the Chinese economy, the Chinese state, and the contradiction between U.S. and Chinese monopoly capitalism. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#29689): https://groups.io/g/marxmail/message/29689 Mute This Topic: https://groups.io/mt/105142448/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
