Chinese Communism at a crossroads

Henry C.K. Liu hliu at mindspring.com
Sun Nov 3 13:29:34 MST 2002



Louis Proyect wrote:

> LA Times, November 3, 2002
>
> Communism at a Crossroads in China
>

It is not a crossroad.  It is a wrong turn at a detour.  But events will set
China back on the road to socialism, or the bankrupt CPC will be replaced.
History will dictate the future of a political party, not the other way
around. The new generation of Chinese leaders will need a few years to come
into their own and the only way to turn is toward domestic development with
more equality in the distribution of the fruits.  Market capitalism is
becoming an obvious failure through internal implosion, by being unable to
deliver its claim of wealth creation, except through fraud.  The US is in the
proscess of socializing its financial losses and will soon realize that
economic logic will require the system to socialize its profits to overcome
overcapcity caused by excessive concentration of wealth.  The whole world is
waiting for the Chinese domestic market to bail out the global system from
deflation which was largely caused by Chinese wages being too low, and global
wages generally also.  US corporatism will push China to reinforce its
socialist base out of a sense of self preservation.  The struggle will be to
mold socialist corporatism into a servant of the people.

Henry C.K. Liu



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