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Sanjeev's avatar

What's happening in US is not revolution, it's counter revolution. Daniel Guerin described Fascism as a counter revolution that masquerades as a populist revolution.

In 1978, Chinese institutions were not evolved and Deng got the ball rolling on economic reforms. But US today already has these Weberian institutions operated by technocrats who maintain the state with proficiency. There's no point in dismantling IRS, Financial & industrial regulators, health agencies, scientific institutions, social security administration etc.

In US, it's a hostile takeover of the state by oligarchical forces. These forces are not homogeneous and hence there is no coherent strategy on how to run the government apart from destroying the governmental oversight and regulations over capitalists. What we are seeing is anarcho-capitalism and the paradox of it is that its self destructive. Capitalism only survives as long as it's backed up by state power (through regulations, rule of law, institutional managements etc). If you destroy the institutions and the state, the capitalism will also collapse.

What we are seeing right now is indeed something new. In the third Reich, the Nazis were able to consolidate power capitalizing on misery of great depression. But in America, Trump regime has taken over a healthy economy & plunging it into a depression. Such kind of turnaround has not happened in history of any modern state.

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Godfree Roberts's avatar

"State capitalism is but a transitional stage towards socialism. This is what the Chinese Communist Party has been saying since the reforms started in 1978”??

Mao wrote Presidents Roosevelt, Truman and Eisenhower, offering to come to Washington to talk personally, “China must industrialize. This can only be done by free enterprise. Chinese and American interests fit together, economically and politically. America need not fear that we will not be co-operative. We cannot risk any conflict”. All ignored him. [Barbara Tuchman].

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