[Marxism] China's high speed rail plans

Marv Gandall marvgandall at videotron.ca
Thu Sep 3 19:38:31 MDT 2009

Artesian writes:

> Exactly how do you know that there is no opposition to FDI, to the
> government trade and currency policies?


> There is ongoing debate outside the party, in the universities, and
> institutions for special studies, about the course being followed.
Note I said there appears to be no "significant" opposition to FDI or the 
government's trade and currency policies as there is, for example, in 
relation to land expropriations, factory layoffs, official corruption, 
environmental degradation, etc.

There's undoubtedly debate within the circles you mention - as well as 
within the CCP - about the the scope and regulation of foreign investment, 
the revalution of the yuan, the diversification of the state's foreign 
currency reserves, and overreliance on export-led growth at the expense of 
domestic consumption. You'd hardly expect there to be otherwise, and these 
discussions have been well reported in the press and scholarly publications.

But you've positioned yourself well outside of these Chinese reform currents 
by opposing in principle the presence of foreign firms in the country and 
the PBC's continued purchase of USD-denominated securities, even while 
acknowledging that any abrupt moves to expropriate foreign holdings or to 
spark a run on the dollar would lead to a grave international economic and 
political crisis whose outcome would more likely than not be catastrophic 
rather than positive for both the Chinese and American working classes.

I'm understanding you correctly, no?

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