What Is ‘Socialism with Chinese Characteristics’? Inside China’s Economic Model
TRANSCEND VIDEOS, 20 Jun 2022
Ben Norton | Multipolarista - TRANSCEND Media Service
22 May 2022 – How does socialism with Chinese characteristics differ from Western neoliberal capitalism?
Multipolarista editor Benjamin Norton discussed China’s socialist model with economist John Ross, a senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China.
Ross criticized Western left-wing academics like David Harvey, who have argued that China’s economy is capitalist or even neoliberal.
“The Chinese model has nothing to do whatever with neoliberalism. And that’s why it produced totally different results,” Ross said.
“China has raised, by World Bank criteria, since 1978, 850 million people out of poverty,” he emphasized. “This is the greatest contribution to human rights in the entire world.”
“There has never been such an alleviation of poverty in the whole of world history,” he noted. “It’s more than 70% of all those people taken out of poverty on the world scale.”
Tags: Capitalism, China, Economics, Neoliberalism, Poverty, Socialism, West
This article originally appeared on Transcend Media Service (TMS) on 20 Jun 2022.
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