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Transnational Thursday for September 19, 2024

Transnational Thursday is a thread for people to discuss international news, foreign policy or international relations history. Feel free as well to drop in with coverage of countries you’re interested in, talk about ongoing dynamics like the wars in Israel or Ukraine, or even just whatever you’re reading.

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https://x.com/BenjaminNorton/status/1838055063073489144

Chinese stocks have been treading water for over 30 years, Indian stocks up 13x, yet even the biggest China doomers have to admit a lot more wealth was created in China than in India over the period.

I understand many of the key businesses are state-owned enterprises - does this mean that state-owned industry is the way to go? Are they all just busy building new factories and selling shares to finance more development? Or have the MBAs who stripmine companies for shareholder value been kicked out of China? Is this what market socialism looks like, capitalism without profits returned to investors?

Completely bizarre, I have no explanation.