By Loretta Napoleoni

The tip of the chilly warfare used to be idea to sign the triumph of Western capitalism over Communism. In Maonomics: Why chinese language Communists Make higher Capitalists than We Do, Napoleoni argues simply the other: what we're witnessing as an alternative is the start of the cave in of capitalism and the victory of "communism with a revenue motive." Maonomics charts the prodigious ascent of the chinese language financial miracle and the parallel process the West’s ongoing insistence on misconstruing China and its economic system at the same time we recognize its turning out to be impact and value. Maonomics is a warning sign wherein Western governments can keep away from monetary cave in through studying tips on how to comprehend extra in actual fact what the teachings of the chinese language economic climate fairly are. in response to first-hand reporting from China in the course of widespread visits within the final numerous years, Maonomics lends credence to the chinese language view and interprets it for Western readers. for instance, the chinese language too are hooked up to their imaginative and prescient of democracy, however it isn't like ours. It isn’t concentrated as a lot on balloting because it is financial chance and the reasonable distribution of wealth and prosperity. Napoleoni additionally separates failed Leninist political ideology from real Marxist conception, displaying that Marx’s writings don't reject revenue as long as it truly is used to profit the folks. Marx’s dictatorship of the proletariat is being learned in China, she argues, the place huge steps ahead are being made within the identify of development and the wellness and prosperity of the chinese language humans. the chinese language economic system up shut, any economist will be demanding pressed to claim that they're no longer on track. right here Loretta Napoleoni deals a entrance row seat at the maximum convey on the earth: the peaceable financial revolution that's transferring the stability of strength on the earth from West to East.

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Extra info for Maonomics: Why Chinese Communists Make Better Capitalists Than We Do

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In the euphoria of that neoliberal victory, few suspected that globalization represented the end of Western economic supremacy. Twenty years on, as the epochal reforms and readjustments produced by these two events redraw the geopolitical map in favor of communist China, it’s easy to regard the victory as a Pyrrhic one. But twenty years ago expectations and the official interpretation of such traumatic changes were quite different. To this day, the West sees in Beijing’s armed response in Tiananmen Square the violent repression of Western-style democracy, and in the pulling down of the Berlin Wall its triumph over the communist world.

From the defense of human rights to the development of renewable energy, going so far as to include respect for the rules of the World Trade Organization (WTO) and aspirations to participatory democracy, this nation seems fully committed to producing a new model of society. Even if for the moment Western-style democracy does not appear to figure among China’s aims, it is nonetheless true that for at least a decade the nation has distanced itself from its postwar totalitarianism and looks solely to a bright economic future.

Twenty years on, as the epochal reforms and readjustments produced by these two events redraw the geopolitical map in favor of communist China, it’s easy to regard the victory as a Pyrrhic one. But twenty years ago expectations and the official interpretation of such traumatic changes were quite different. To this day, the West sees in Beijing’s armed response in Tiananmen Square the violent repression of Western-style democracy, and in the pulling down of the Berlin Wall its triumph over the communist world.

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