Capitalism

People walk past a screen showing a Chinese national flag at a shopping mall in Beijing, China, on 26 May 2023. (Jade Gao/AFP)

The utopian post-capitalist world we can create with AI

Today, China faces almost the same set of problems that the capitalist states are struggling with. In a post-capitalist world where an entire demographic degenerate into the “useless class”, capitalism will lose the market on which it depends. EAI senior research fellow Lance Gore imagines what this could mean for the Chinese Communist Party and other advocates of the socialist path.
People walk past photos of Chinese President Xi Jinping at the Museum of the Communist Party of China in Beijing, China, on 3 March 2023. (Greg Baker/AFP)

Can China move away from a 'small society mentality' and build a sustainable big society?

Capitalist and socialist societies are faced with the same universal conflict between power and self-interest on the one hand, and fairness and justice on the other. As socialism seeks to reclaim the “better angels of our nature”, as mentioned by former US President Abraham Lincoln, the contemporary mass society that results may be a worthy alternative to a democratic system on the point of collapse. But can China achieve this goal?
Chinese paramilitary police stand guard on the Bund in the Huangpu district in Shanghai, China, on 10 April 2023. (Hector Retamal/AFP)

Is China ready to lead?

China is far from possessing the ability, experience and resources to maintain and safeguard the global order. Thus, it is in its own interest to continue supporting the US as the global leader. Even so, amid a challenging international climate, China can no longer maintain a low profile. It needs to improve its global image and quell fears of the China threat. More importantly, the CCP should resist its internal urge to go all out on its fighting philosophy, which may likely win itself more enemies than friends.
Gang leader Gao Qiqiang (starred by Zhang Songwen) in The Knockout. (Internet)

Netizens in China debate: Are Chinese entrepreneurs all bad guys?

A comment by New Oriental’s founder Michael Yu Minhong has sparked online debate on the ideals of private entrepreneurs in China. However, amid the commotion, Yu actually has sound advice for the business community in navigating through tough times.
Children share candy floss as they visit a hutong (alley) in Beijing, China, on 31 January 2023. (Wang Zhao/AFP)

Population decline could be a good thing for China

Population decline can actually bring multiple dividends, contrary to popular belief, says East Asian Institute senior research fellow Lance Gore. Instead of looking for solutions to economic crises and population decline that are capitalist in nature and do not address the root causes, this is an opportunity to explore how socialism in China can deliver solutions that turn crisis into opportunity.
This photo taken on 31 January 2023 shows people walking under lanterns at a street in Nanjing, Jiangsu province, China. (AFP)

What is China’s 'new era'? [Part 2]

Lance Gore explains why navigating China’s “new era” requires out-of-the-box thinking on managing the knowledge economy, such as redefining employment and value beyond the capitalist labour market, and managing the uneven distribution of creativity and innovation. Moreover, the country needs to be wary of a reversion to large-scale centralisation of power and rule by the voice of one.
A woman takes a picture next a tree decorated with paper lanterns at the entrance of a park in Beijing, China, on 26 January 2023. (Wang Zhao/AFP)

What is China’s 'new era'? [Part 1]

EAI senior research fellow Lance Gore explains why the sudden reversal of globalisation, constant turbulence due to global developments and the fragmentation of international relations are some very real coordinates of China’s "new era". In response, apt and concrete policies along the socialism axis can be devised to meet the challenges.
People use their mobile phones outside a closed down business in Hong Kong on 1 November 2022. (Peter Parks/AFP)

Hong Kong's left turn could hit its financial centre status

Commentator Lew Mon-hung explores seven contradictions that he observes in the “one country, two systems” policy for Hong Kong, including the stand on the private sector, governance issues, and the dynamic zero-Covid policy. All of these factors have had an impact on Hong Kong, and it remains to be seen how these points will be addressed to ensure the special administrative region’s growth.
People walk at an alley in Qianmen street in Beijing, China, on 2 October 2022. (Noel Celis/AFP)

Can China really catch up with the US?

China has great motivation to achieve its China Dream of catching up with and surpassing the US. Not only would this wipe away its century of humiliation but also prove the superiority of socialism. However, its actions could make achieving its dream that much harder.