China Communist Party votes for more markets

November 13th, 2013 at 11:00 am by David Farrar

Stuff reports:

’s leaders pledged to let markets play a “decisive” role in the economy as they unveiled a reform agenda for the next decade today, looking to secure new drivers of future growth.

Ironically this comes two weeks after the Party Annual Conference voted “Co-operation, rather than competition, should be the main governing factor in economic relations

So the NZ Labour Party is more hostile to markets than the Chinese Communist Party!

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10 Responses to “China Communist Party votes for more markets”

  1. labrator (1,750 comments) says:

    They voted for co-operation? The contradiction in terms was obviously lost on them. I guess they won’t be competing in the next election, just co-operating.

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  2. srylands (386 comments) says:

    “The Labour Party Annual Conference voted “Co-operation, rather than competition, should be the main governing factor in economic relations””

    In any other OECD country, such a resolution by a major political party would attract serious media and public attention. In most countries it would also make the party unelectable. Scary stuff.

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  3. F E Smith (3,302 comments) says:

    So does this mean that the PRC has moved on the left wing from being Communist to being Fascist? Or should we simply start calling it an Oligarchy, which of course is the Green’s preferred form of government?

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  4. srylands (386 comments) says:

    So as the majority shareholder in Air New Zealand an incoming Labour Government will put in place a Board that will seek to cooperate with Jet star rather than compete with it?

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  5. ross69 (3,652 comments) says:

    Does that mean NZers will be able to buy great tracts of land in China? :)

    By the way, David, you conveniently left out this bit:

    “While the party effectively upgraded the importance of markets in its philosophy – previous policy statements often described markets as playing only a ‘basic’ role in allocating resources – it also made clear that it had no plans to radically reduce the role of the state in the economy.”

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  6. Ed Snack (1,737 comments) says:

    That statement also reflects a major misunderstanding of markets; markets are probably the major way that we cooperate with others. Competition is the mechanism that helps keep that cooperation honest.

    In anything other than a rigged monopoly market (often but not necessarily a government run one) a market consists of people exchanging items to their mutual benefit, in what way is this not competition ? The alternative is the Labour (and left) way, you will get what we deem you are worthy of being given as determined by people who are wiser and more attuned to this fragile world we live in and to your needs than you are. That doesn’t strike me as cooperation.

    Markets have also existed probably through human evolutionary history, very ancient people (as in people many, many years ago rather than just old codgers !) trafficked items for exchange, such behaviour and its ramifications are part of “human nature”; bureaucratic institutions are a modern excrescence. Adam Smith understood and explained this pretty well.

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  7. srylands (386 comments) says:

    “Does that mean NZers will be able to buy great tracts of land in China?”

    Why would they want to? According to Russel Norman most New Zealanders don’t have spare $1,000 to invest.

    Back to the theme – How the hell have we ended up with a country where we are even debating the preeminent role of markets in allocating resources and driving growth? The intelligence of public debate on economics is going backwards. You – ross69 – are a prime example.

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  8. Harriet (4,514 comments) says:

    The last 30yrs has seen the National/Labour/Greens Socialist Party put in place regulation, rules & reguirements upon regulations, rules & requirements – while China has been lifting all theirs.

    This is no surprise and well known throughout private enterprise who puts faith in National. Funnily enough. Vote for the Conservatives.

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  9. wikiriwhis business (3,883 comments) says:

    China are probably speaking from insider knowledge of the TPP heavily geared towards them

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  10. KevinH (1,131 comments) says:

    This “pledge’ from China’s ruling elite signals a profound change and departure from the PRC communist manifesto that held sacrosanct the ideal that the “State” was the only trusted provider of all an individuals needs.
    The Chinese government has signalled earlier in the year that it may be willing to allow farmers to sell their land, a death knell for the co operatives that created modern China as well as a complete reversal of the philosophies of China’s founding father Mao Tse Tung.
    It also demonstrates that an economy ruled by communism reaches a nadir, a point where growth is no longer possible without competition.Perhaps we are witnessing the coming of age of China and the death of communism.

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