Richard Wolff Explains How China Beats The West At Capitalism ft. Richar...

CA Richard Wolff Explains How China Beats The West At Capitalism ft. Richard Wolff (TMBS 101) 256,078 views •Aug 8, 2019 8.1K 235 Share Save The Michael Brooks Show 142K subscribers Richard Wolff answers the question "is China socialist?" and breaks down a basic overview of the Chinese economy. This is free content from the weekly edition of TMBS. To support the Michael Brooks Show on Patreon and receive hours of weekly members-only content, subscribe at https://www.patreon.com/TMBS Follow The Michael Brooks Show and crew on twitter: @TMBSfm @_michaelbrooks @mattlech @davidslavick @davidgriscom 1,299 Comments augustin tio Add a public comment... Egor Lobaskin Egor Lobaskin 1 year ago Capitalists: " Communism is inefficient and always loses to capitalism" Also capitalists: "we have to protect our domestic economy from the efficiency of communist China." 421 Peace Peace 1 year ago No one twisted the arms of the Oligarchs and Corporatist to move the factories overseas. They saw profits in their eyes. They did not care about the employees that built the company, they did not care about the communities they devastated. Me I question whether they cared about the country. 627 DrivenByBalance DrivenByBalance 1 year ago When I grew up in the 70s and 80s, my mother would say, eat your vegetables, there are starving kids in China. Now, in 2019, I say to my kids, there are starving kids in America. 613 Lisa Shung Lisa Shung 2 days ago Western countries labelled China as “Communist” country, the Chinese people even CCP have never said that China is a communist country, instead it’s a socialism country with the character of capitalism. Only CCP was founded on the idea of Communism near 100 years ago. 16 Andrew Andrew 1 year ago Getting mad that China steals our tech lol so what? Americans expect to exploit a foreign country just cause we want to, kinda like how we treat our own workers 229 villard Xu villard Xu 1 year ago How about stop trying to fit the China model into any existing textbook, u are gonna getting nowhere, because China itself is writing a textbook the world never see before 144 Carol McKee Carol McKee 1 year ago As China saw the necessity of creating a Chinese consumer market (by paying higher wages), don't American economists see that by NOT paying a living wage, America is destroying it's domestic market? 249 MORE1500 MORE1500 1 year ago We did this to ourselves. A capitalist will sell a rope to his own hanging. 287 Jay Bee Jay Jay Bee Jay 1 year ago I see Professor Richard Wolff, I click. 573 hocyrus Great hocyrus Great 1 year ago Now it is more clear why USA said China stealing technology. That’s nonsense 106 Michael Mao Michael Mao 1 year ago That is very well-said. China has a mixed system where it directly orders its state-owned companies and uses policies to influence the private sector. It is an economic system that has the agility of a market economy due to the fact that more than 2/3 of the GDP is contributed by the private sector, and it also has the directed growth characteristic of a socialist economy due to its ability and willingness to plan and nudge the economy at that planned direction. This is the core reason why China grew so quickly in the past 4 decades. It is very socialist when you look at the education system and the welfare system. In China, the best schools are public, and you pay only around 5000 RMB per year for tuition and less than 1000 RMB for dorm fees. The worst minimum salary per month is 1000 RMB, which means that almost all families can afford to send their kids to the top university in China (if they're good enough in academics) without going deeply in debt. China isn't perfect by any means, but I see that the CCP is trying its best to make it better. 50 Jenny Long Jenny Long 1 year ago jesus christ I think i'm a communist 243 Colin T Colin T 1 year ago And on the opposite side of the ledger, the Russian state. The country went full Capitalist and devolved into a oligopoly. China has pulled 850 million people out of extreme poverty. 74