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Thread: Government announces change to assist the development of a socialist matket economy
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[quote=APAULT,235453]On CCTV9 tonight the govt was reported to be changing laws on bankruptcy. In he future creditors will get all the money owed befo workers get what they are owed. This is supposed to enhance the move to a socialist market economy. Can someone please explain how paying out other businesses before the workers is an any sense socialist? Then a very capitalist American banker said this is a good move because it is a move towards recognising that 'there is no shame in bankruptcy'. WHAT??? A business gets credit from bank, suppliers and investors, it does not manage its affairs properly and becomes bankrupt. Then it says 'Oh sorry' you have lost your money, but we are not ashamed. I thought China was trying to create a specifically Chinese socialist spciety utilising the market economy. In this case it appears to be following the worst of the American system. Again, can someone explaon what I am not understanding in why the government has done this??[/quote]
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