this post was submitted on 26 Mar 2024
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What about the CPC?
My theory in that is that the West is experiencing late stage capitalism: the majority of capital is sitting in finance and assets. China is just another destination that does allow capital to directly flow in, within certain rules.
For example, major international hotel chains are all in China. This is a form of property investment even though it does employ people who provide services. It is assessed as property by capitalists. While the Chinese property market is deflating, that just means capital may leave. That's not a threat that requires any concessions to everyday Americans or Westerners.
I chuckle at the idea that capitalists can't afford concessions. They can. They choose not to.
I think they mean in terms of ideological threats to capitalism in the imperial core