Socialism

Huaxi Village was once known as the “richest village in China”, with stories of prosperity and luxury. But a recent video of people queuing in the rain to reclaim and cash out their investments seems to point to a very different reality. Zaobao correspondent Chen Jing finds out more.

Rather than perpetuate the “giant baby syndrome” of mollycoddled citizens, says Lance Gore, the Chinese government should go against its combative instincts and focus on harmony. Only then can it forge an inclusive social contract with the populace, where there’s room for active citizenry and a healthy civil society.

With the Biden administration in place, some fear that the generous social welfare policies Democrat governments tend to implement will further deplete the US’s dwindling coffers. Even as some Americans have a knee-jerk reaction to what they perceive to be socialism, can the Chinese example offer any learning points for the Americans? How were they able to industrialise so quickly and move towards poverty alleviation?

The West and certain countries in Asia have very different perceptions of the use of big data and AI to monitor its population and even build a social credit system. French academic Nicolas Lainez reviews China's social credit system and discusses the possibility of Vietnam adopting it to strengthen the government's control over society. However, he says the political risks may outweigh its benefits.

Even as 2020 will go down in history as the year of the coronavirus, economics professor Zhu Ying notes that it also marks a shift in how Western countries view China — and not in a good way.

Hong Kong commentator Chip Tsao observes that America's elites' hatred for Donald Trump is comparable to how the Chinese Nationalist government once detested Mao Zedong. Despite being a real estate tycoon, Trump entered the White House on the platform of making America great again. Whether he has done it is another matter, but the fact that he continues to play the outsider taking on the upper echelons on both sides of the spectrum suggests that it might be time for the American people and others to rethink what’s truly left and right.

The recent adjustment of China’s “Four Comprehensives” at the recent fifth plenary session of the 19th Central Committee of the CCP signals that China has gauged itself to have “achieved a moderately affluent society” and will be reaching for greater goals. Zaobao correspondent Yu Zeyuan reads the signs.

While Nazism and socialism fall on opposite ends of the spectrum, they are more alike than they seem. Hong Kong commentator Chip Tsao points out that both ideologies began with similar intentions, but took divergent paths to meet their objectives and garnered different reactions from the West.

Lance Gore analyses that the knowledge economy offers great potential for bettering the lives of people. But capitalism may not be the best route to take. Power in the hands of a few, income gaps, job losses and wage cuts in the digital age bear this out. Can China offer a third way as it seeks to marry socialism with a market economy? The West is already considering some proposals with a socialist bent such as the Universal Basic Income (UBI). Surely, proponents of socialism can think of even more revolutionary ideas?