90% of the 1,000 richest people tracked by the Hurun Report are either officials or members of the Chinese Communist Party.
The most important and lucrative sectors of the economy have been reserved for state-owned-enterprises (SOEs)...SOEs are run like private corporations, seeking to maximise profits. They made an estimated 1 trillion yuan ($150.83 billion) in net profits in 2010...In the first half of last year, the four state-held commercial banks alone raked in an average of 1.4 billion yuan ($211.16 million) a day....
http://www.asianews.it/news-en/Communist-Party-controls-wealth-and-big-state-owned-enterprises-20626.html
Almost all of China’s richest people have made their money in state-dominated sectors, such as property and construction, resources, other heavy industries and telecommunications. This could be through preferential access to the best land (often seized illegally from citizens) for property developers, privileged access to below market rates of capital, or special access to raising capital or equity in listed SOEs. In almost all cases, those benefiting are CCP officials or members...
...the 150 centrally managed SOEs owned two-thirds of all fixed assets in the country, while their revenues amount to about half of the revenues generated by all Chinese firms each year...over two-thirds of board members, and three quarters of senior executives of SOEs are either CCP officials or members...
...While SOEs have increased their revenues by 20 to 30% each year, mean household income has increased by a paltry 2 to 3%...
...One of the keys to the Party's power base is that it retains control of material, career and professional opportunities. This may be good news for the growing ranks of the mega-rich but not the majority of the Chinese people who can't get a foothold on the social ladder...
http://www.forbes.com/2011/09/14/china-rich-lists-opinions-contributors-john-lee.html
At the March National People’s Congress 70 of the 2,987 members had a combined wealth of 493.1 billion yuan ($75.1 billion). By comparison, the wealthiest 70 people in the 535-member U.S. House and Senate, who represent a country with about 10 times China’s per-capita income, had a maximum combined wealth of $4.8 billion.
Rupert Hoogewerf, the director of research for the Hurun Report, said there are likely more dollar-billionaires in the NPC. For every one among the 189 the company identified in all of China, mainly through company filings, he estimates there’s another whose wealth remains hidden from the public. For every yuan billionaire, he estimates they’ve missed two. “There will be individuals on the NPC that just haven’t come to the surface,” Hoogewerf said. “There’s a lot of hidden wealth in China.”
Li Zhaoxing, a former foreign minister and spokes person for the National Party Congress said “I have found around me many good citizens who have gotten rich through their own hard labor and intelligence.” - Just as often claimed by Fox TV's Bill Reilly !!!
23.5 percent of the 1,000 richest Chinese individuals' fortunes comes from the property industry, up from last year's 20.1 percent. The rentiers
Liang Wengen, chairman of China's heavy machinery giant Sany Group, has been named the wealthiest person in the Chinese mainland. His personal fortune totaled 70 billion yuan.
Showing posts with label State Capitalism. Show all posts
Showing posts with label State Capitalism. Show all posts
Friday, September 23, 2011
Wednesday, July 07, 2010
trotsky
When the split in the Russian Social-Democratic Party took place at a conference in London in 1903, Trotsky took an individual stand. It is not true that he was a Menshevik, for, although he, like the Mensheviks, opposed Lenin's plan for an organisation of revolutionary conspirators to be controlled by a dictatorship in the centre, his fundamental views differed from both factions. Trotsky himself made it clear that he did not consider the controversy important enough to warrant a split, and continued to work with both groups in an attempt to re-establish unity. whereas both factions were agreed that the coming Russian Revolution would be essentially capitalist and that Russia would consequently have to pass through an era of capitalist democracy, Trotsky was alone in proclaiming that the overthrow of Czardom could be accomplished by the Russian movement alone, which could maintain itself in power and so cut out completely the period of capitalist transition. This point of view he elaborated into a theory called "Permanent Revolution".Trotsky took up a position, arguing that if the working class were to come to power in the course of the coming bourgeois revolution in Russia it was unreasonable to expect them to hand over power to the bourgeoisie; they would, and should according to Trotsky, take steps to transform society in a socialist direction. The basic points of this theory rest on the assumption that power could be held by socialists in Russia long enough to enable the workers of the more advanced Western countries, helped, of course, by their Russian comrades, to introduce Socialism. Then the material backwardness of Russia could be overcome through the united efforts of a Socialist Europe. It was adopted by Lenin himself in April 1917 when he returned to Russia from exile in Switzerland. As a result Trotsky himself then rallied to the Bolsheviks.
When hopes for a socialist revolution in the West had been frustrated, Trotsky blamed this on bad and treacherous leadership. The debates between Trotskyists and Stalinists always revolved around such questions of leadership – if only the leaders had acted in such-and-such a way, things would have turned out better. Tactics, said Trotsky, should have been framed so as to win workers over from their Social Democratic leaders, under the command of the Communist Party: “We must understand how to tear the workers away from their leaders”. Trotskyists continue to attach themselves to larger movements in the hope of providing alternative leaderships and of being at the heart of the struggle.
Trotsky defended Russian state-capitalism on the grounds that the Russian economic system, i.e., state control, was essentially working-class, and apparently required only a change in its political administration to perfect it for working-class needs.This error is bound up with Trotsky's confusion between State-capitalism and Socialism, evidence of which can be found in his writings. Trotsky fell from power because his theory of Permanent Revolution and his consequent insistence on continued revolutionary agitation abroad would have cut off all technical aid from the Western world, and so made any attempt at industrial development more difficult in Russia. In exile Trotsky played the role of "loyal opposition" to the Stalin regime in Russia. He was very critical of the various political aspects of this regime but to his dying day he defended the view that the Russian revolution had established a "Workers State" in Russia and that this represented a gain for the working class both of Russia and of the whole world. Russia under Stalin was a Workers State, not a perfect one, certainly, but a Workers State nevertheless. Trotsky was only able to sustain his point of view by making the completely un-Marxist assumption that capitalist distribution relations (the privileges of the Stalinist bureaucracy) could exist on the basis of socialist production relations. Marx concluded that the mode of distribution was entirely determined by the mode of production. Thus the existence of privileged distribution relations in Russia should itself have been sufficient proof that Russia was not socialist. Trotsky rejected the view that Russia was state capitalist on the of grounds of the absence of a private capitalist class, of private shareholders and bondholders who could inherit and bequeath their property.
When hopes for a socialist revolution in the West had been frustrated, Trotsky blamed this on bad and treacherous leadership. The debates between Trotskyists and Stalinists always revolved around such questions of leadership – if only the leaders had acted in such-and-such a way, things would have turned out better. Tactics, said Trotsky, should have been framed so as to win workers over from their Social Democratic leaders, under the command of the Communist Party: “We must understand how to tear the workers away from their leaders”. Trotskyists continue to attach themselves to larger movements in the hope of providing alternative leaderships and of being at the heart of the struggle.
Trotsky defended Russian state-capitalism on the grounds that the Russian economic system, i.e., state control, was essentially working-class, and apparently required only a change in its political administration to perfect it for working-class needs.This error is bound up with Trotsky's confusion between State-capitalism and Socialism, evidence of which can be found in his writings. Trotsky fell from power because his theory of Permanent Revolution and his consequent insistence on continued revolutionary agitation abroad would have cut off all technical aid from the Western world, and so made any attempt at industrial development more difficult in Russia. In exile Trotsky played the role of "loyal opposition" to the Stalin regime in Russia. He was very critical of the various political aspects of this regime but to his dying day he defended the view that the Russian revolution had established a "Workers State" in Russia and that this represented a gain for the working class both of Russia and of the whole world. Russia under Stalin was a Workers State, not a perfect one, certainly, but a Workers State nevertheless. Trotsky was only able to sustain his point of view by making the completely un-Marxist assumption that capitalist distribution relations (the privileges of the Stalinist bureaucracy) could exist on the basis of socialist production relations. Marx concluded that the mode of distribution was entirely determined by the mode of production. Thus the existence of privileged distribution relations in Russia should itself have been sufficient proof that Russia was not socialist. Trotsky rejected the view that Russia was state capitalist on the of grounds of the absence of a private capitalist class, of private shareholders and bondholders who could inherit and bequeath their property.
Saturday, March 28, 2009
Cuba Libre ?
Faced with an aging population and a life expectancy of 77.3 years Cuba's government has raised the retirement threshold by five years, to 60 for women and 65 for men . About 90 percent of Cubans have government jobs, and now both sexes must work at least 30 years, not 25, to get a full pension. When fully phased in by 2015 it means Cuba's retirement age will exceed Latin America's average of 59 for women and 62 for men .
The government says 3 million people attended town-hall meetings to discuss the potential retirement age increase last year, with 99.1 percent supporting it.
As Cuba's work force shrinks, the ratio of workers to retirees has narrowed from seven-to-one in 1970 to three-to-one today. Had the country not raised its retirement age, the ratio would have been two-to-one by 2025, the government said.
Now just where in this decadent capitalist world of ours have we heard the exact same arguments being made and almost the exact same solutions being implemented , i wonder ?
The government says 3 million people attended town-hall meetings to discuss the potential retirement age increase last year, with 99.1 percent supporting it.
As Cuba's work force shrinks, the ratio of workers to retirees has narrowed from seven-to-one in 1970 to three-to-one today. Had the country not raised its retirement age, the ratio would have been two-to-one by 2025, the government said.
Now just where in this decadent capitalist world of ours have we heard the exact same arguments being made and almost the exact same solutions being implemented , i wonder ?
Wednesday, August 27, 2008
North Korea and world capitalism
North Korea , that archetype state capitalist centrally planned economy has been undergoing certain changes recently , according to the BBC .
In areas designated "special economic zones", North Korea now invites foreign investors - mainly South Korean - to take advantage of cheap North Korean labour.
At the northern frontier with China, trade is thriving, and bribes can often buy passage across the border for North Koreans wishing to buy goods, visit family or flee the country.
In areas designated "special economic zones", North Korea now invites foreign investors - mainly South Korean - to take advantage of cheap North Korean labour.
At the northern frontier with China, trade is thriving, and bribes can often buy passage across the border for North Koreans wishing to buy goods, visit family or flee the country.
Monday, March 31, 2008
Cuba Libre
I was reminded of that famous saying of Anatole France , "The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread." when i read this item on the BBC website that the Cuban government has lifted a ban on its citizens staying in hotels previously reserved for foreigners . Hotel employees said unofficially that they had been told by officials that Cubans would be allowed to stay in hotels across the island from midnight on Monday .
However:
The new Cuban hotel guests, like the foreign tourists, will have to pay in hard currency when - most Cubans are estimated to earn between 400 non-convertible (Cuban) pesos (eg a factory worker), to about 700 (eg a professional) - the equivalent of between £9 and £15 a month .
So some reform that it going to be - the freedom of the workers to stay at the Ritziest , Savoyest hotels - just as long as you can pay the room rate in dollars or sterling or Swiss francs !!
However:
The new Cuban hotel guests, like the foreign tourists, will have to pay in hard currency when - most Cubans are estimated to earn between 400 non-convertible (Cuban) pesos (eg a factory worker), to about 700 (eg a professional) - the equivalent of between £9 and £15 a month .
So some reform that it going to be - the freedom of the workers to stay at the Ritziest , Savoyest hotels - just as long as you can pay the room rate in dollars or sterling or Swiss francs !!
Friday, December 21, 2007
Putin's Pennies
Citing sources inside the president's administration, Russian political expert Stanislav Belkovsky claims that after eight years in power Putin has secretly accumulated more than $40 billion (£20bn). The sum would make him Russia's - and Europe's - richest man.
In an interview with the Guardian , Belkovsky repeated his claims that Putin owns vast holdings in three Russian oil and gas companies, concealed behind a "non-transparent network of offshore trusts".
Putin "effectively" controls 37% of the shares of Surgutneftegaz, an oil exploration company and Russia's third biggest oil producer, worth $20bn, he says. He also owns 4.5% of Gazprom, and "at least 75%" of Gunvor, a mysterious Swiss-based oil trader, founded by Gennady Timchenko, a friend of the president's .
"Putin's name doesn't appear on any shareholders' register, of course. There is a non-transparent scheme of successive ownership of offshore companies and funds. The final point is in Zug in Switzerland and Liechtenstein. Vladimir Putin should be the beneficiary owner."
Belkovsky adds that the west has misunderstood Putin and has been distracted by his "neo-Soviet" image. Putin, Belkovsky claims, is ultimately a "classic" businessman who believes money can solve any problem .
The wave of renationalisations under Putin has transformed Putin's associates into multimillionaires. Members of Putin's cabinet personally control the most important sectors of the economy - oil, gas and defence. Medvedev is chairman of Gazprom; Sechin runs Rosneft; other ministers are chairmen of Russian railways, Aeroflot, a nuclear fuel giant and an energy transport enterprise . Putin has created a new, more streamlined oligarchy, his critics say.
"The crown jewels of the country's wealth have ended up in the hands of Putin's inner circle," Vladimir Rzyhkov - a former independent MP .
Putin has not commented on Belkovsky's claims . Putin's chief spokesman, Dmitry Peskov, was not available for comment . Gunvor, which has its head office in Geneva, failed to comment
In an interview with the Guardian , Belkovsky repeated his claims that Putin owns vast holdings in three Russian oil and gas companies, concealed behind a "non-transparent network of offshore trusts".
Putin "effectively" controls 37% of the shares of Surgutneftegaz, an oil exploration company and Russia's third biggest oil producer, worth $20bn, he says. He also owns 4.5% of Gazprom, and "at least 75%" of Gunvor, a mysterious Swiss-based oil trader, founded by Gennady Timchenko, a friend of the president's .
"Putin's name doesn't appear on any shareholders' register, of course. There is a non-transparent scheme of successive ownership of offshore companies and funds. The final point is in Zug in Switzerland and Liechtenstein. Vladimir Putin should be the beneficiary owner."
Belkovsky adds that the west has misunderstood Putin and has been distracted by his "neo-Soviet" image. Putin, Belkovsky claims, is ultimately a "classic" businessman who believes money can solve any problem .
The wave of renationalisations under Putin has transformed Putin's associates into multimillionaires. Members of Putin's cabinet personally control the most important sectors of the economy - oil, gas and defence. Medvedev is chairman of Gazprom; Sechin runs Rosneft; other ministers are chairmen of Russian railways, Aeroflot, a nuclear fuel giant and an energy transport enterprise . Putin has created a new, more streamlined oligarchy, his critics say.
"The crown jewels of the country's wealth have ended up in the hands of Putin's inner circle," Vladimir Rzyhkov - a former independent MP .
Putin has not commented on Belkovsky's claims . Putin's chief spokesman, Dmitry Peskov, was not available for comment . Gunvor, which has its head office in Geneva, failed to comment
Wednesday, March 21, 2007
Back Again
Toronto against the warSome may have noticed a certain degree of inactivity on this blog recently . The explanation being that i was on holiday , two weeks in Toronto , Canada .
Needless to say , for SPGBers there is no such thing as a holiday away from politics .
I met up with John Ayers , secretary of the Socialist Party of Canada and had a chin-wag with him and also with an interested inquirer who he was having discussions with and who hopefully wasn't too put off by my gloom and doom .
I attended a rally about global warming ... which more or less added up to - join the Kyoto Treaty , turn the lights off and we can all save a polar bear .
On the 17th , Toronto participated in the world wide protests calling for troops out of Iraq and the end of the war which i went along to . All the usual were present , the Canadian equivalent of the SWP and of course those Commie Cultists , the Spartacist League
Became embroiled in a rather sterile debate about the potential possibilities presented to the working class by the Russian Revolution and also the relevance of vacuous slogans such as anti-imperialism with a member of the International Bolshevik Tendency but was pleasantly surprised when he recognised that my arguments were ones he associated with the Socialist Party of Canada . Small as they are , i'm pleased they still get recognised by the Leninist Left .
Bought a few books of course . Fromm , Reich , Zinn , Upton Sinclair , Jack London .
Erich Fromm's commentary on Marx's 1844 Economic and Philospohical Manuscripts drew my attention to these thoughts of the Moor :-
" An enforced increase in wages ( disregarding the other difficulties and especially that such an anomaly could only be maintained by force ) would be nothing more than a better remuneration of slaves , and would not restore , either to the worker or to the work , their human significance and worth
Even the equality of incomes which Proudhon demands would only change the relation of the present-day worker to his work into a relation of all men to work . Society would then be conceived as an abstract capitalist "
And elsewhere ,
"...as this communism [ crude communism ] is concerned; the category of worker is not abolished but extended to all men... This communism, inasmuch as it negates the personality of man in every sphere, is simply the logical expression of the private property which is this negation. Universal envy constituting itself as a power is the hidden form in which greed reasserts itself and satisfies itself, but in another way. The thoughts of every piece of private property as such are at least turned against richer private property in the form of envy and the desire to level everything down; hence these feelings in fact constitute the essence of competition. The crude communist is merely the culmination of this envy and desire to level down on the basis of a preconceived minimum. It has a definite, limited measure. How little this abolition of private property is a true appropriation is shown by the abstract negation of the entire world of culture and civilization, and the return to the unnatural simplicity of the poor, unrefined man who has no needs and who has not yet even reached the stage of private property, let along gone beyond it.
(For crude communism) the community is simply a community of labor and equality of wages, which are paid out by the communal capital, the community as universal capitalist. Both sides of the relation are raised to an unimaginary universality -- labor as the condition in which everyone is placed and capital as the acknowledged universality and power of the community."
Those who claim to be socialists such as the SSP and those in Sheridan's Solidarity should take note of Marx when they advocate a "workers wage" and a "workers state ".
Toronto against Global Warming
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