Does the Chinese miracle herald the collapse of capitalism?

loretta_napoleoniThe end of the Cold War was thought to signal the triumph of Western capitalism over Communism, but in her new book Maonomics: Why Chinese Communists Make Better Capitalists than We Do, Loretta Napoleoni argues just the opposite. Instead she suggests that we are misconstruing China and its economy even as we acknowledge its growing influence and importance, and are actually witnessing the beginning of the collapse of capitalism and the victory of “communism with a profit motive”: Commi-capitalism. Loretta is an economist and an expert on terrorist financing and money laundering, and advises several governments and international organizations on these issues. She writes and broadcasts widely, and her books have been translated into 18 languages including Chinese and Arabic. The Italian edition of Maonomics won the prestigious Premio dell’Associazione per il Progresso Economico.

Leave a Reply