Three Chinas | The Economics of China Episode 1

How much do you really know about the history of modern China?

In Episode 1, Professor Ang introduces the differences in Chinese development under Mao, Deng, and Xi.

How can we understand the bright and dark sides of China’s gilded rise? Through the lens of American history.

In this seven-episode series, Yuen Yuen Ang explains how China escaped poverty and became the second largest economy in the world. Rejecting popular assumptions of Chinese exceptionalism, she shows that China’s path to a mixture of wealth and capitalist excesses is more like the American experience than most people think.

Produced by Matthew Kulvicki, Nick Alpha & Kurt Semm

[gcingia]

Marvelous episode 1.
As a Marxist oriented person, a big question is What is "Socialism with Chinese Characteristics".
Clearly China went from the "Central Planned Economy" which was typical of the Bolsheviks / Leninist era of the Soviet Russia Revolution, with very little Private property, to a "Socialist Market Economy" (Deng Xiaoping era / Lenin with Nikolai Bukharin tried the "NEP"). But what that means? How were the resources of the Peoples of China allocated? The Party did allocate it. Allow some levels of Private Property of firms.

Deng Xiaoping did established that everything could be criticized with these exceptions: the rule of the Communist Party. The "Four Cardinal Principles":
* upholding the socialist path
* upholding the people's democratic dictatorship
* upholding the leadership of the Chinese Communist Party (CCP)
* upholding Mao Zedong Thought and Marxism–Leninism

Enshrined in China's Constitution.

At the end it seems to me that in China the State controls the Corporations (priv/pub). In the Western "liberal democracies", the Corporations control the State (eg. Military Industrial Complex USA).

[oniongingertomato]

Exciting series! Very important for us to understand their approach to the problems of a developing country

[stefanomaurino]

China is a democracy, it’s called “whole-process people's democracy”. The US is liberal democracy. Democracy is not only in one form and nobody has the right to force others to practice their version of democracy.

Capitalism and the free market are two different things. In China, political power is in the hands of the state but the economy is decentralized. Meanwhile in the US, political power is in the hands of lobbyist groups. China is more into a market economy rather than capitalism. Free market can only exist if the government is sovereign so they can treat all companies equally and not be controlled by a number of oligarchs.

[GlobeHackers]

Excellent! I've been waiting for this. After spending 35 years in East Asia and 15 years in China, I often find it challenging to explain my experience regarding "China Business" to friends. This lecture was a clear, well-organized introduction that can help us understand China in a broader and deeper context. We need this kind of educational communication now more than ever. We must embrace thoughtful, well-considered, and careful leadership in our world wherever we find it. Let's make peace, health, and prosperity for life on Earth. Together, we thrive; divided, we fall.

[fuikayesoong]

i think i learned more in this short clip than i did reading dozens of books by western observers! 😂😂enjoyed this thoroughly! well done. clarity was crystal n made so much for me

[TIENxSHINHAN]

The thumbnail makes Mao Zedong look like Xi Jinping with a receding hairline and makes Deng Xiaoping look like an action hero of respectable height.

[KGold]

This is really good. I’m going to send this to friends of mine to help them understand China’s government better. Looking forward to future episodes.

[juliusaugustino]

I am familiar with professor Ang's work and it is quite good. However I strongly disagree with the demonization of Mao and his period. Academic books and peer reviewed articles I would recommend on Mao's China:

Mao's China and After: A History of the People's Republic, M. Meisner

The Unknown Cultural Revolution: Life and Change in a Chinese Village, Dongping Han

An exploration of China's mortality decline under Mao: A provincial analysis, 1950–80, Babiarz, Eggleston, Miller & Zhang

Has China Turned to Capitalism?, D. Losurdo

Was Mao Really a Monster? The Academic Response to Chang and Halliday’s "Mao: The Unknown Story", G. Benton

Other books on modern China that are worth reading:

China's Great Road, J. Ross

The China Wave, Zhang Weiwei

The East is Still Red, C. Martinez

When China Rules the World, M. Jacques

Socialism With Chinese Characteristics: A Guide for Foreigners, R. Boer

[robertseaborne]

The main reason why Liberal democratic values are failing is that they were designed by a ruling class primarily for the purpose of protecting their privately owned wealth and influence over their respective working class populations. Liberal values place such an emphasis on privately owned wealth and individual freedoms that corruption and socio-economic inequality are an almost inevitable result that is all too difficult for multi party democracies to control. China's relatively more authoritarian single party form of governance, namely the Communist Party of China (CPC) is by definition more disciplined and efficient than Liberal democracies at meeting the social and cultural needs of it's people; hence China's relatively rapid production and economic progress since the 1970s.

[azzevria]

Concise and persuasive thesis. Looking forward to other episodes. China's recent history as an interpretation will remain fluid for some decades, perhaps centuries, with many more debates yet to come and interpreters yet unborn.

[alessandromotter]

Very informative in such a short time. Only thing I would disagree with is the juxtaposition between the USA as a “democracy” and China as a “one party dictatorship”. With just two parties both controlled by financial elites, and with almost identical foreign policies, the USA resembles more a two party oligopoly.

[hodjepodje]

Chinese history has always interested me in 100 years China went from warlords and war crimes being committed against it which have yet to be answered for to being the next in line for the top spot of global superpowers. The thing about being on top is that everyone wants to knock you off, America and China must make and maintain peace and cooperation for the future of humanity. Great idea for a series!

[koyurai-ne]

Here in the presentation of sister Pro. Ang has undermined the crucial role of Mao without whom the foundation of PR CHINA couldn't be imagined. It is that he (Mao) less mistakes. To undermine him means just to undermine the history of modern China. Deng added two magical bricks (economic reform and opening up). Zhang and Hu also did their best. Since the early 2010s Xi transformed CHINA into the world second largest economy and technologically advanced country. I would like to thank the Chinese leaders and peoples.

[sulandelemere]

Democracy is not a system it’s an outcome.

[PhilipWong]

Politics determines how wealth is distributed within a country, while wars and diplomacy determine how wealth is distributed between countries.

These are not good outcomes for US citizens of US Government policies: Economic inequality, inflation, stagnant real wages for the last fifty years, costly healthcare, an expensive education system, student loan debt totaling $1.7 trillion with an average balance of $38, 000, poor public transportation systems, racial inequality, mass incarceration, the militarization of police, deteriorating infrastructure, housing affordability, homelessness, the opioid epidemic, and gun violence.

Instead of prioritizing the welfare of its people, the US meddles in other countries to spread its version of democracy. The question is whether the USA can continue to survive with its version of democracy, not whether it can have any leadership role in the global order.

In China, the people cannot change their government, but they can change the government policies. In the West, the people can change their government, but they cannot change the government policies. In the US, the wealthy dictate (lobbying, political donations, and pork-barrelling are legalized) government policies. In China, the wealthy have no special say in government policies.

Anywhere in the world, if there is a border dispute, it is usually the result of a line drawn by an Englishman; if it is an internal dispute, it is usually the US fueling it. Difference in implementation of divide and conquer strategy.

The United States was financially exhausted by spending on the Space program, the Great Society program, and the Vietnam War. In 1971, it could no longer keep its Bretton Woods commitment to exchange gold and the US dollar at a fixed rate of $35 per ounce. The last time the US had a positive trade balance was in 1975. The US has basically been bankrupt since 1975.

The US is now the world's largest debtor, reflected in its net international investment position (NIIP) of -$14.3 trillion. In comparison, China (including Hong Kong) is the world's largest creditor with a NIIP of $4.3 trillion. The last time the US had a positive NIIP was in 1988. A superpower does not borrow money from other countries to fund its military.

Who is the most powerful country in the world - the world's largest debtor or the world's largest creditor?

[Lee-Van-Cle]

Information well organized, expounded with good insight, thnx!

[loneranger]

Mao's foundation made possible...the impossible.

[davidgamer]

Mao did a great job united China back in one . Remember back then China is the poorest countries still fighting with Cheng running to Taiwan. The world trying to split china & other country continues pressing including sanctions. That’s externally issues.
As you said it’s an era in progress. Internally, there are still numerous issues that needs to be solved one by one from rural areas to cities .
Anyway, this set a foundation for new China as truly independent country without interference from other countries.
Lastly, no one is perfect.

[shalinikala]

Thanks for a lucid and succinct review. 🙏🙏

[limeishaokao]

After listening to the video's evaluation of mao, I knew that there was no need to continue to watch it. The improvement of China's comprehensive national strength today was the foundation laid during mao period. Without a good foundation, a building cannot be built high. The omission of mao's contribution in the video shows that she doesn't understand industrialisation, much less China.