Andrew Krystal, in his in-depth column in the Nova Scotia Business Journal, explores the implications of nationalistic capitalism. An excerpt:
According to Cleo Paskal, the author of “Global Warring”, nationalistic capitalism, as practiced by China’s ruling Chinese Communist Party (CCP), allows the Chinese state to use corporations in its sphere of influence to attain long-term strategic goals, like resource acquisition. These corporations appear, on the surface, to be like any other big multi-national. But they’re not. Says Cleo Paskal: “In China, the CCP calls the shots when it comes to who does business and how. The businesses should ideally make money, but always within the context of strengthening what the CCP deems in the best interest of China, and of itself.”
She continues: “Conversely, in the West, one of the post-Cold war challenges we face is the marked divergence of companies from national agendas. Increasingly, it seems as though businesses are caught up in short-term thinking. The privatization of critical national industries [Britain is kicking itself over the sell-off of North Sea oil, Paskal points out] contrasts markedly with the CCP approach in which China obtains assets and then uses them for national leverage.”
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