Chinese Communist Party Publication Says
Capitalism Is Approaching Its End And
The World Has 'Marxist Fever'
Ever since the 18th Party Congress in November, China pundits have argued over whether the new leadership will or will not bring about new reforms.
Earlier this month, we highlighted some important reforms to capital controls that should boost investor confidence.
But Qiushi Online, often described as the flagship magazine of the Central Committee of the Communist Party of China (CPC), that was once used by chairman Mao to push the principles of the Cultural Revolution, ran an article titled "The Decline of Western Market Fundamentalism" that shows that Beijing is unlikely to embrace Western capitalism anytime soon.
The article that first ran in Qiushi's sister publication Red Flag Manuscript, is quoted in Chinascope and argues that the U.S. government had used neo-liberalism to "push its hegemony on the rest of the world" but has lost much of this power since the global financial crisis.
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Readmore: www.businessinsider.com
Earlier this month, we highlighted some important reforms to capital controls that should boost investor confidence.
But Qiushi Online, often described as the flagship magazine of the Central Committee of the Communist Party of China (CPC), that was once used by chairman Mao to push the principles of the Cultural Revolution, ran an article titled "The Decline of Western Market Fundamentalism" that shows that Beijing is unlikely to embrace Western capitalism anytime soon.
The article that first ran in Qiushi's sister publication Red Flag Manuscript, is quoted in Chinascope and argues that the U.S. government had used neo-liberalism to "push its hegemony on the rest of the world" but has lost much of this power since the global financial crisis.
............
Readmore: www.businessinsider.com
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