From Telegraph:
China’s last Maoist collective, where villagers held out against capitalism, is to privatise after its prosperity was found to have rested on a mountain of hidden debt.
While the rest of the country abandoned the commune, pursued personal fortunes and dismantled state industries, the village of Nanjie in central China renationalised its land, set up factories and paid all residents £20 a month.
Advertising was banned and instead, propaganda banners hung in streets which led to a 30ft statue of Mao built in 1993. Annual “profits” from the 26 village businesses paid for a mass wedding ceremony and honeymoons in Beijing.
