>>673250Yes but nobody has the power to pull a fast one on China. It is too autonomous in its power now. It is no longer subject to the western imperialists, either militarily, culturally, or economically. If anything they are dependent on China as the "factory of the world." The tables have turned in that regard.
South Korea and Japan in their present incarnations are products of American hegemony. Two wars, WW2 and the Korean war, decided that. China repelled all traces of foreign imperialism from its borders . Foreign investors are treated almost as the Nanban trade in early modern Japan "southern barbarian traders" , sequestered to contained districts and subject to expulsion.
>>673256It could just be a cultural trait that explains how China does business. The key difference is that it keeps its oligarchs on a leash, and the CCP can easily undo them. This is in contrast to the United States, which is ruled by its billionaire class and whose political class in Washington is merely their paid-for minions. This refusal to allow capital to rule society is itself a profound departure from global norms.
Xi has recognized that the policies that unleashed market forces in China has overstayed its welcome and has now shifted to a doctrine of "shared prosperity." China's mixed economy seems to consist of two phases. A full throttle market phase, followed by a more socialistically oriented consolidation or "reaping" phase in which the gains of that market phase are distributed according to public need. This places the Chinese business class in an awkward position. But as you noted, certain quirks in Chinese culture, a confucian remnant perhaps, almost makes these billionaires feel obligated to return the favor .
A good analogy perhaps is China's real property rights laws. In China nobody is allowed to "own land". You are able to purchase a decades long year land use right grant. 70 years for residential land use, for example. These grants may be renewed after submitting a new claim once the lease approaches an end. But the land is de facto
owned by the state or collectively.
In the same way, the affluent Chinese business class tacitly acknowledges that their wealth is borrowed from the Chinese people. It is a temporary privilege, not the foundation of a generational dynasty of pseudo-aristocrats. Eventually, the state will come to collect. It will return that wealth to the people from which it was borrowed.
This attitude is a profound departure from the west with drastically different–and in my opinion deranged–views of property ownership which confers an immutable and irrevocable ownership of land and assets to the capitalist who from there forward own a part of reality forever. Now Bill Gates and Jeff Bezos have conquered vast tracts of land like neo-feudal lords and it's way more fucked up than it is in China.
Private individuals have a different relationship to property than the state.