How will a capitalist economy affect communist China?
Interesting question. There is a saying that wherever you see 3 Chinese together they are only ever eating, gambling or planning how to make money in business. Chinese are among the most capitalist people on earth. They have had generations of living in a planned economy where your annual income was already determined by the government before the year started. In business you could lose no customers nor win new customers. It was all intricately balanced and controlled, unless you knew someone who could pull some strings to help you make more money. Today the economy has opened, and it’s every man for himself. There are more choices in personal goods and standards of living and people are doing what they can to upgrade their income, status and opportunity. China is learning all it can from the multinationals that are pouring money into China. Western know-how is upgrading local knowledge, and people who work in Western companies here accept lucrative deals to defect to local competitors
