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Marxism and the Financial Crisis in China - Essay Example

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This paper discusses the relationship between Marxism and the financial crisis in respect to the Chinese economy. I will also analyze some view points about Marxism and the global financial crisis, as relates to the Chinese economy. It seems there is a transition of beliefs about the effects of Marxism on the Chinese economy…
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Marxism and the Financial Crisis in China
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Download file to see previous pages Although china is a communist nation, it can be said that there are no real communists in the country. The Chinese communist party consists of about 70 million members, yet there are a few or no devoted Marxists to be found in the country. According to Gross, "The elites in China are more interested in capitalism as it is believed to result in better outcomes. They believe that the evolvement of capitalism in a state-controlled economy, under the supervision of the Communist Party will have great results." (Gross, Daniel. 2009) The Chinese communist party was founded in 1921, in Shanghai. Even 10 years before the party was formed, there were student uprisings concerning communism. The party was founded by two Beijing University Professors; Chen Duxin and Li Dazhao. One of Li's students was Mao Zedong. These people believed in communism and Marxism-Leninism. There became two parties trying to rule the country; the Communist Party of China and the Nationalist government of China. In 1923 the Communists and the Nationalists joined forces to beat the warlords. But the Nationalist turned on the Communists and when they got to Shanghai, and they decided to clear out the communists
In China, the communist party has shown flexibility when implementing policies. It is important to note that Karl Marx and his philosophy is very much respected and referenced by the party members. His wisdom has always been appreciated and is never forgotten. But another important thing to note is that Mr. Marx's ideas are very old and do not fit in today's era of science and technology, because even though this ideology seems appropriate, it would put a restraint on professionalism. (Jochnowitz)
The pure Marxist ideology is a political philosophy, economic and sociological worldview with a basis on the materialist interpretation of history, a social change theory, a Marxist analysis of capitalism, and an atheist view of the liberation of humans. The major primary aspects this ideology, as put forward by Friedrich Engels and Karl are The dialectical and materialist concept of history, an advocacy of proletarian revolution, and a critique of capitalism
In today's competitively developing world, China cannot afford to stay backward by adopting a pure Marxist ideology. Therefore it must adopt policies and processes that promote monetary growth and development. It is true that there is a wide gap between the rich and the poor in the country. But this does not mean that adopting Marxism and such policies would help in development. The ultimate objective is, undoubtedly, the prosperity of the entire nation, but the belief is that national prosperity could only be achieved through capitalism. (Gross, Daniel. 2009)
The pure Marxist ideology has been rejected through out the world. The main reason for this is that states which adopted this system tended to remain backward as the rest of the world developed and progressed. From Marx's and Engel's perspetive, "the ideal society was one in which the principle of the common ownership of wealth and advocates the values of community, cooperation, equality and the satisfaction of need." (Heywood 1998:328) Communism also encompasses wider ideologies based on Marxist principles, such as socialism
In the early to mid 1980s, there was a only a hint of Communism left in the economic system ...Download file to see next pagesRead More
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