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Why do so many hate capitalism? - Industrial Supply
| Why do so many hate capitalism? People talk about China becoming richer than the US. China has state capitalism. They are communists but still capitalists. There gov't keeps worker wages very low thats why so many American factories have moved ops over there. The Chinese make these companies become partners of the state, sale the products back to the US, then loan us money so we can keep buying there products. It is working good for the country but not the citizens. There is no middle class over there. There are the rich and the very poor. The US 14 trillion dollar economy still dwarfs China's $4 trillion economy but they are growing at a rapid pace. Also China doesn't let there currency flow with supply and demand like all other industrial countries do. They can manipulate the value of there currency however they need to. You can be a communist state and have "state capitalsim" look at what Putin did with Russia. I know Russia was not communist when Putin came to power. I hit enter to soon. State capitalism is when the state performs the role as the capitalist employer so yes you can be a communist country and be capitalist. Big difference in free market capitalism and state capitalism. |
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