China declaring intention of becoming more capitalistic


Communist Chinese leaders are declaring their intention of becoming more capitalistic:

November 12, 2013

China’s Communist Party has wrapped up four days of high-level meetings with a promise to enact “comprehensively deepening reforms” in an effort to spur growth in the world’s second largest economy.

The official Xinhua news agency said Tuesday the leaders at the meeting, known as the Third Plenum, decided to allow the market to play a “decisive role” in allocating resources in China’s state-controlled economy.

In previous official documents, Xinhua said the market was often defined as playing a “basic” role. However, it is still not clear what exactly that new distinction might mean.

The closed-door meeting of the party’s 376-member Central Committee is seen as an opportunity to lay out the economic plan for China in the coming decade.

November 12, 2013

BEIJING (AP) — China’s leaders promised a bigger role for market forces in the country’s state-dominated economy but failed to produce dramatic reforms to overhaul a worn-out growth model in a closely watched policy meeting Tuesday.

In a report after a four-day meeting, Communist Party leaders gave an unusually strong endorsement of private companies as “important components” of the economy but said state industries will remain its core, disappointing reform advocates who hoped the economic meeting would unleash a wave of change

The market will play a “decisive role” in allocating resources, the party said.

China is moving a bit more towards capitalism as the USA moves more towards state control and communism.  Yet, Chinese leaders have shown no real intention to not have more control any time they want it.

China has taken steps to attempt to dethrone the USA dollar as the world’s reserve currency.  They would like the reminbi yuan to replace it, or at least be part of a basket of currencies that would replace the role of the USA dollar.  They want to end USA dominance of the world (see, for example, China calls for ‘de-Americanisation’ of the world and points to USA debt crisis).

The Chinese believe that because of their trade surpluses, accumulation of gold, purchases of other assets, and financial strength, combined with increasing debt of the USA and regular trade deficits by the USA, that if it takes the right steps, in time, the USA will lose its economic and then ultimately military influence.

And while the USA is in the process of losing its dominance, China will not end up as much on top as its leaders seem to believe as the Bible shows that it will a European, not Asian, beast power that will rise up and temporarily have economic dominance before the return of Jesus Christ.

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