Will Hutton: ‘Confucian’ capitalism: the genie is out of the bottle

From The Observer, via Taipei Times:

China is beginning to meet the economic expectation that it has long promised but never delivered, due to a phenomenon that dare not openly speak its name. Capitalism, a distinctive and more socially minded Chinese capitalism but capitalism none the less, is irreversibly taking root in the world’s most populous, and communist, country. Nothing is likely to be the same again. Nanjing‘s ambitions, and its capacity to meet them, is tribute to that. As the deputy director of the city’s economic commission explained to me, it aims to become China’s No. 1 knowledge city. It has 37 universities.

A state-of-the-art metro system with bullet trains begins operation this autumn. The plan is to combine this extraordinary infrastructure with the opportunities of globalization to make the city’s three core industries — automobiles, petrochemicals, and information and communication technoloy (ICT) — super-competitive.

Thanks, Yong Liu!


CDT on Twitter

Google Ads 1


Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.