This month the Weibo account Weibo Finance, which has more than 1.5 million followers, issued an instruction against posting any comments “that bad-mouth the economy”. The post appears to have since been deleted. Bloomberg reported that several other finance influencers had been told by Weibo to “avoid crossing red lines” and to post less about the economy. Weibo did not reply to a request for comment.
Topics that are considered increasingly sensitive in China’s economy include record high youth unemployment figures (the government stopped publishing this data in August), deflation, the struggling property sector and capital flight.
The restrictions have been building for some time. In June, three finance commentators, one of whom had 4.7 million Weibo followers, were blocked by the platform as a punishment for “hyping up the unemployment rate, spreading negative information … [and] smearing the development of the securities market”.
Dan Wang, the chief economist at Hang Seng Bank, said “the number one sensitive issue now” was foreign investment, because of its links to cross-border capital flows.
What a case of “the beating will continue until morale improves.”
two things are certain: the Chinese people will suffer, and there will be many scapegoats found within the government - people suspected of collaborating with Western spies, for example - to make examples of so that Xi is not at fault…
It’s so hilarious seeing them just plain state that people aren’t allowed to talk about normal-ass stuff if the government doesn’t like it, and then seeing people online who try to defend them.
Fuck Lenin for turning a philosophy of freedom and cooperation and consensus into just another tool of State/authoritarian power.
bUt It’S nOt PrAcTiCaL oThErWiSe
No, you’re just scared of what it would actually look like. Lots of supposed Communists who are scared of the whole “stateless” part meaning they can’t finagle their way into power, or who just want the revolution as a vehicle to change who is in power (i.e. them).
/rant
Lenin’s biggest mistake was thinking this whole “dictatorship of the proletariat” phase was going to be this magical normal period that no human would abuse ever, completely ignoring millennia of human history, human behavior, and the dynamics of power that would make that sort of thing literally impossible. Not only does absolute power corrupts absolutely, but even if a leader was immune to such corruption, dictatorships are never propped up by one single leader. They are precariously installed by groups of people who have other units of power, like the military, to keep the system in place.
One of those powerful people can simply say: “Keep this dictatorship in place or I will torture you and your entire family while spreading propaganda about detestable crimes, until eventually I’ll feed you to the angry mob and prop up a new dictator.”
And that’s it. The real communism dream never happens. Corruption quickly floods the state, and wealth disparity continues unchallenged and unabated. It’s just more hidden, under the guise of a system of equalative poverty for one class of people and gradients of power for another class of people.
Hell, this even happens with failed democracies, like Russia. Everybody gets behind the new system, but without the right kinds of checks and balances, corruption invades and, eventually, it’s a democracy in name only. But, at least democracy never had any notion of a dictatorship built into the philosophy. Democracies are still really hard to keep in place, but communism is a doomed idea from the very start.
Communism is a very doable system, the problem is that people have false expectations of it and what it should look like (largely thanks to Leninism).
Collaborative, democratic consensus, is the normal way that groups of people work. Coercion is not, but that is how majoritarian systems work, and it is how states work. People have been living under Western nation-state and administrative-state systems for so long, within defined borders that denote both behavior and identity, that it’s tough for people to take how things work on a micro scale (e.g. family or friend-group dynamics), and apply that thinking at larger scales. The common response is, “but someone will always try to take charge/ seize power”, and that is true, but before the time of the modern state, you could walk away.
Now the state itself has become a self-perpetuating threat to its own citizens (which you can’t leave without subsuming yourself to another state), and majoritarian democracy is just used to maintain the state through the illusion of choices that hold that threat at bay. “Don’t let ‘x’ get in power, because if they do they’ll hurt those of us that are ‘y’.” You can’t fuck off and make a community that doesn’t allow ‘x’, because a state will come along and destroy or seize it.
it’s tough for people to take how things work on a micro scale (e.g. family or friend-group dynamics), and apply that thinking at larger scales.
Because it’s already very very hard to scale. It takes only a small group of people to fuck up trust models to such a degree that the whole system falls apart.
If you are not prepared for evil, evil will hold far more power that you and decimate the entire community. Indigenous peoples from every corner of the world have been punished by that hard lesson over and over again.
Scale is half the problem. There is a reason that climate destruction, world-spanning wars, nuclear weapons, etc. all took off the same time that population exploded. You can’t separate scale from technology from destruction. I’m not arguing for de-dev, but the complex, “scalable” systems we’ve built and now rely on are literally either designed to kill us or are inadvertently killing us (emission, plastics, deforestation, PFAS, etc.
I’m not sure where you got the idea that I’m advocating being unprepared for evil? Even in Anarchist systems, which do not have systems of authority, the use of force to counter someone hurting you is well understood.
If your argument is that state systems will scale large enough to destroy non-state systems, I agree, but then you’re just agreeing with what I said about the state setting itself up as a threat that must be participated with in order to counter (i.e. in this case arguing, “if you don’t want the state to consume you, make your own state”). That doesn’t make those other systems bad, it makes states bad. “Might makes right” is not generally considered a very modern or positive way of interacting with each other.
if they’re so scared of the truth, the news must be really bad i guess… and such varied topics as well: real estate, youth unemployment, stagflation, capital fleeing the dictatorship because of fears of asset seizure… so many problems and nobody can talk about them… but China is a big place, maybe they can just bury the problems somewhere in a big Chinese hole… or lock them up in a camp in Xinjiang…
If we pretend it’s not happening the problem will go away.
China’s December factory activity likely contracted for third month
The official purchasing managers’ index (PMI) likely was at 49.5 in December from last month’s 49.4, according to the median forecast of 24 economists in a poll conducted Dec 22-28. The 50-point mark separates growth from contraction.
“China cracks down on negativity in bid to boost confidence” what a world we live in
🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
China is cracking down on negative commentary about the financial market and other sectors as the authorities seek to boost public confidence despite challenging economic headwinds.
Topics that are considered increasingly sensitive in China’s economy include record high youth unemployment figures (the government stopped publishing this data in August), deflation, the struggling property sector and capital flight.
In June, three finance commentators, one of whom had 4.7 million Weibo followers, were blocked by the platform as a punishment for “hyping up the unemployment rate, spreading negative information … [and] smearing the development of the securities market”.
Dan Wang, the chief economist at Hang Seng Bank, said “the number one sensitive issue now” was foreign investment, because of its links to cross-border capital flows.
Evergrande, once China’s biggest developer, is in the midst of a painful debt restructuring process, while Country Garden, its main rival, defaulted in October.
There is also pressure on economists in Hong Kong to be optimistic about the mainland economy, although analysts say this is a long-term trend and one that comes from a general atmosphere of deference to Beijing rather than specific instructions.
Saved 74% of original text.
So China can meddle in the sentiment and politics of america but they are scared of the same happening to them?
I hope they choke on a bag of dicks. Taiwan should invade while China is so weak so they can reunify one China under its proper leadership.
