based
This is pretty evident by things like their response to Coronavirus vs the US response
Sure, let’s actually look at some of the specifics of that response.
When you look at what they actually did, you’ll notice that quite a bit of money was spent propping up the private sector and commerce, and the mechanisms are very similar to what western, capitalist governments did to prop up their own capitalists. When you go beyond aesthetics, it’s pretty fucking obvious that the CPC is mounting a muscular defense of capitalist property relations.
February 3, 2020 On the first day the stock markets in Shanghai and Shenzhen reopened after the Lunar New Year holiday, the People’s Bank of China (PBOC) injects 1.2 trillion yuan (US$170 billion) of liquidity through reverse bond repurchase agreements.
So, the PBOC did literally the same thing, reverse repo loans, as the US Federal Reserve to keep markets liquid,
February 18, 2020- contribution China’s State Council allows businesses to reduce or even stop contributions to provincial pension funds as well as unemployment and work insurance from February to June. It also halves the social contribution rate for large corporations between February and April. Companies can also apply for the postponement of housing fund contributions before the end of June.
Or in other words, they rolled out large tax cuts for businesses.
February 25, 2020 – China’s State Council approves an additional 500 billion yuan (US$70 billion) for small business lending on top of 300 billion yuan approved earlier in February.
They loaned money to small business owners.
March 14, 2020 – Nanjing is the first Chinese city to grant 300 million yuan (US$42 million) of consumer vouchers aimed at improving spending.
They took measures to boost consumer spending (when you total both sides up, the US wound up spending dramatically more on direct payments to individuals and welfare extensions/increases).
China’s State Council rolls out a host of measures to support the economy, including an additional central bank credit line of 1 trillion yuan (US$140 billion) to small lenders. The government also announces new monetary policies, including the prospect of lower deposit reserve requirements for small banks in the future and an additional 1 trillion yuan for small banks to spur lending to small businesses.
They made it more attractive for banks to take risky loans to small businesses.
April 7, 2020 – China’s State Council’s executive meeting chaired by Premier Li Keqiang announces plans to build 46 new integrated pilot zones for cross-border e-commerce around the country.
They supported “e-commerce.”
April 20, 2020 – China lowers its one-year loan prime rate (LPR) by 20 basis points to 3.85 per cent, while the five-year LPR is cut by 10 basis points to 4.65 per cent.
They cut interest rates on loans to banks (just like the US Federal Reserve).
June 9, 2020 - Wangfujing Group, one of China’s largest retail groups specialising in department stores, confirms it has received approval from the Ministry of Finance to sell duty-free goods.
Another tax cut.
June 24, 2020 - Premier Li Keqiang tells the State Council that China will standardise corporate fees for commerce chambers and seek to further reduce overall corporate burdens.
General changes in policy to reduce costs for corporations.
You’re right the responses were the same, that’s why hundreds of thousands died in both countries
I didn’t say the public health responses were the same, I said that both western imperialist nations and China spent trillions of dollars pursuing economic policy aimed at propping up capitalists, and that many of those specific policies (which are in a list in my post above) were similar.
That less people died in China is not in and of itself evidence of a dictatorship of the proletariat. But the fact that China’s main response to this crisis has been to prop up capitalism, does seem to suggest that the DOTP doesn’t exist there.
