It's actually a very important point that many western observers of China don't get: what is called "private company" in the west and in China are not, in fact, the same thing. For one, private companies outside China don't have mandatory communist cells embedded in them.
That then leads people to see some statistics like share of "private" companies in chinese economy and conclude they're doing capitalism like the good old Europe.
Yep, all those "bring manufacturing/refining back to America" initiatives are effectively just handouts to few well connected capitalists. Everyone will forget about them in a year or two, but the money will stay in their pockets (see the Biden Infrastructure Bill).
You mean Deutsche Bank? It definitely was heavily involved. It was a classic imperialist move of lending money to the foreign government for the purpose of that government then spending all of it on imports from the creditor country (and really, more often than not specifically on commodities produced by companies controlled by the bank issuing the loan).
Take this passage from Lenin's Imperialism:
Finance capital has created the epoch of monopolies, and monopolies introduce everywhere monopolist principles: the utilisation of “connections” for profitable transactions takes the place of competition on the open market. The most usual thing is to stipulate that part of the loan granted shall be spent on purchases in the creditor country, particularly on orders for war materials, or for ships, etc.
Yeah it was German banks basically showering Greece with loans they knew Greece wouldn't be able to pay back. Because they knew they'd have EU/USA's back when the inevitable happens.
Capitalists were hiring goons to protect their private property, and at some point they realized they could get the state to subsidize that expense and sell it as "public safety".
Thankfully, US government relies on (1) private companies and (2) Chinese components/minerals for missile production. Not the smartest arrangement I've ever seen.
Arriving in Kuttanad in the early 1940s, where landlords like Joseph Murickan used “attached labor” to perpetuate feudal subjugation, VS observed capitalist farming reinforcing caste oppression, akin to the British textile boom intensifying US slavery
It's actually a very important point that many western observers of China don't get: what is called "private company" in the west and in China are not, in fact, the same thing. For one, private companies outside China don't have mandatory communist cells embedded in them.
That then leads people to see some statistics like share of "private" companies in chinese economy and conclude they're doing capitalism like the good old Europe.