China’s “capitalism” is first and foremost communist-socialist (Podcast)
China’s “capitalism” is first and foremost communist-socialist Podcast by Jeff J Brown – China Rising
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Chinese President Xi Jinping’s policies of creating an equitable society and harmonious economy include meaningful and traceable corporate and business accountability. Any company working in China, be it the West’s Apple and McDonald’s, or nationally, China Air and Alibaba, is expected to put social responsibility at the same level of making a profit. It’s not how much profit you make, but how you make it. Who and what you hurt versus who and what you help.
Corporate charters around the world state that the officers and board of directors are required to maximize shareholders’ value, meaning to make the owners as rich as possible. In order to do so, what about killing hundreds of thousands of people, like Merck did with Vioxx (http://www.theamericanconservative.com/articles/chinese-melamine-and-american-vioxx-a-comparison/ and http://www.theweek.co.uk/us/46535/when-half-million-americans-died-and-nobody-noticed)? Be my guest, it was a blockbuster drug that made the CEO and stockholders each a small fortune. Destroy the environment and make entire communities sick with lethal diseases (https://en.wikipedia.org/wiki/Mountaintop_removal_mining)? About all you risk is a lawsuit and paying a fine. Back in the 1960s-1970s, Ralph Nader became a household name, by exposing many corporate crimes that killed countless people and destroyed the environment (https://www.democracynow.org/2013/6/4/american_fascism_ralph_nader_decries_how).
What nobody wants to say or admit is that this is capitalism’s business as usual. If it means making the owners rich, then killing millions of people and destroying Planet Earth are perfectly acceptable in capitalism. These social and environmental costs are externalized, meaning they are passed on to citizens and governments. Thus, these horrific “productions costs” do not show up on corporate profit and loss statements. Everybody else pays for them, even lethally so.
There was a brief period after World War II, when Western corporations paid lip service to “being a good neighbor” and “looking after the community”. I grew up parroting that, “What’s good for General Motors is good for me”. Unions still had some teeth and the environmental movement was an effective force, so the Fortune 500 had to play nicey-nicey in their public relations, by giving the masses the lip service they expected to hear.