George Soros’ dream is that China would do what Yeltsin did to Russia – that it would privatise the economy, that it would basically carve it up and let US investors buy control of the most profitable heights. And in that way, the foreign investors would be able to sort of get all of the profits of Chinese industry, Chinese labour, and it would become the darling stock market of the world, just like Russia’s stock market was the leading booming stock market of 1994-96 and that China, essentially, would be run to benefit US investment bankers. And Soros is furious that China is not following the neoliberal policy that the United States is following. It’s following a socialist policy wanting to keep its economic surplus at home to benefit its own citizens, not American financial investors. And so this, for Soros, is a clash of civilisations. And he said somehow we’ve got to stifle the Chinese economy. We’ve got to put sanctions against it. We’ve got to stop investing in it to force it to do to its country what Yeltsin did to Russia.
he’s a comedian. What’s wrong with that statement? He thinks that China actually needs American dollars to build its factories and invest. He thinks that somehow China’s balance of payments is going to fall apart without the US market, without US investors telling President Xi what to do. The Chinese government won’t have a clue as to what to invest i
— source michael-hudson.com | michael hudson | Oct 5, 2021