2min chapter

Intelligence Squared cover image

Martin Wolf and Yanis Varoufakis on the Future of Capitalism - Part 2

Intelligence Squared

CHAPTER

The Autocratic Capitalism of China

The autocratic capitalism of China is not just a Chinese phenomenon. The way that capitalism emerged in Prussia in Germany is very similar. Highly illiberal state decided at some point, we're now going to emulate the British because we're forming behind and we're going to have capitalism. You can see the repercussions of that even today in Germany. Much before Deng Xiaoping, there was a certain gentleman called Lee Kuan Yew in Singapore,. An autocrat who decided, similarly, that Singapore is going to become Singapore. So you'll say it's not an exception. It's part of a pattern.

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