PEPE ESCOBAR—The plenum proved once more that “socialism with Chinese characteristics” – or, for the recalcitrant, Chinese-modified capitalism – is “people-centric”. The supreme values are national interest and the people’s interests – attested by the fact that large private corporations remain under the strategic control of the CPC.
It’s idle to try to find in the final communique at the end of the plenum any restrictions on private capital on the path to “universal prosperity”. The key point is that the role of capital should always be subordinated to the concept of “socialism with Chinese characteristics”.