/leftypol/ - Leftist Politically Incorrect

>>2580376
See vidrel.

Also, unlike the US or Japan for instance, China does not rely on the stock market as a significant and central driver of economic activity. That's why when Japan's stock market crashed in the 1990s, so did the economy. It's the same way the 1929 stock market crash was tied to the Great Depression in the US. Meanwhile, companies in China get their funding primarily from state bank loans and state led investements. China also makes it hard for foreigners to invest in its state market with restrictions, quotas and selective access.

>>2580376
The idea of using finance to socialize the economy was first suggested by Hilferding I think. I am skeptical because I place the real bottleneck in management, not finance. Finance is an indirect way to socialize labor and an indirect way to socialize the means of production. Central planning and a bureaucracy/management team dividing and organizing labor is a direct way to socialize labor and the means of production. A stock market is not really different than a State Planning Committee except that the stock market is anarchic and inefficient.

The Chinese stock market is the only market globally where the gains are made during the day during normal trading hours, as opposed to overnight where trading is restricted to porky

>>2580376
Stupid ultra baizuo westoid doesn't know about the Marxist-Leninist stock markets smh…

>>2580376
Its a mixed economy like all the worlds countries, buy with a gigantic public sector.

>>2580418
>mixed economy like all the worlds countries
Bullshit term. It’s liberalism and capitalism all the way down.

>>2580391
Notice how India's stock market has exploded in growth due to the financialization of its economy. Even India's public banks shifted to be be market driven due to IMF stipulations and they also deregulated interest rates.

Meanwhile, China's GDP rate of growth still grew in double digits at the same its stock market was stagnating. China's economy has far outpaced India's economy in size. 98% of finance is state-controlled in China. The loans and funding from China's state owned banks are coordinated through five year plans that shape industrial policy and set strategic direction, and they will also take reasonable losses to achieve social ends.

>>2580433
people tend to refer to chinas economic system as a "mixed economy" or "state capitalism", which is bullshit because all capitalism is state capitalism
thats the point he was trying to make

>>2580433
source?

Capitalism is good when China does it

Wonder if there's a movement in China to abolish the stock market