China’s “Socialist“ Billionaires

Following the Latest Report about the Global Super-Rich

By Michael Pröbsting, Revolutionary Communist International Tendency (RCIT), 16.11.2015, www.thecommunists.net

 

A few weeks ago, the annual report about the richest people in the world was published – the co-called Hurun Global Rich List (see http://www.ibtimes.co.uk/china-dethrones-us-has-maximum-number-billionaires-1524295 and http://www.hurun.net/en/ArticleShow.aspx?nid=14678). It contained a number of interesting facts. Most importantly it reports that China has overtaken the US as the home country to the largest number of billionaires throughout the world.

According to this report, out of 1,877 dollar billionaires worldwide, 596 have their homes in China. 537 dollar billionaires live in the US – which was until now the leading country for the super-rich. Noteworthy is that the figure for China does not include billionaires residing in Hong Kong, Macao and Taiwan, the first two of which formally belong to the Chinese state. (Together, these three entities are home to another 119 billionaires.)

This means that even without the Chinese billionaires residing in Hong Kong and Macao, 31.8% of the super-rich layer of the global monopoly capitalists are Chinese. Of course, if we compare the figure of billionaires with the total population per individual country, the Western imperialist countries and Japan are still way ahead of China. Nevertheless, it is an undisputable and crucial fact that nearly a third of the top layer of global monopoly capitalists has its home in the Chinese state and is closely networked with the ruling state apparatus.

There are persons who claim that China is still a “deformed workers state.” Do they want to tell us that these 596 super-super-rich are “socialist” billionaires?! Do others, who belittle China as a “semi-colonial” country which supposedly serves US imperialism as an extended workbench, still deny that this Asian country is home of a potent monopoly capitalist class – one of the global “big players”?!

No, the simple truth is that China became capitalist long ago (in the early 1990s) and through two and half decades of hyper-accumulation of capital, a significant big bourgeoisie has emerged there. As we have elaborated in a number of works, China has become an emerging imperialist power.

 

For our analysis of China as an emerging imperialist country we refer readers to various works of Michael Pröbsting:

The Great Robbery of the South (Chapter 10), http://www.great-robbery-of-the-south.net/great-robbery-of-south-online/download-chapters-1/chapter10/;

China‘s transformation into an imperialist power. A study of the economic, political and military aspects of China as a Great Power, in: Revolutionary Communism (English-language Journal of the RCIT) No. 4, http://www.thecommunists.net/publications/revcom-number-4;

No to chauvinist war-mongering by Japanese and Chinese imperialism! Chinese and Japanese workers: Your main enemy is at home! Stop the conflict on the Senkaku/Diaoyu-islands in the East China Sea! 23.9.2012,in: Revolutionary Communism No. 6, http://www.thecommunists.net/worldwide/asia/no-war-between-china-and-japan/;

Russia and China as Great Imperialist Powers. A Summary of the RCIT’s Analysis, 28 March 2014, in: Revolutionary Communism No. 22, http://www.thecommunists.net/theory/imperialist-china-and-russia/;

More on Russia and China as Great Imperialist Powers. A Reply to Chris Slee (Socialist Alliance, Australia) and Walter Daum (LRP, USA), 11 April 2014, in: Revolutionary Communism No. 22, http://www.thecommunists.net/theory/reply-to-slee-on-russia-china/;

The China Question and the Marxist Theory of Imperialism. Again on China as an imperialist Power. Reply to a Polemic from CSR (Venezuela) and PCO (Argentina), December 2014, in: Revolutionary Communism No. 32, http://www.thecommunists.net/theory/reply-to-csr-pco-on-china/

 

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About RCIT Britain

What the RCIT stands for Revolutionary Communist International Tendency (RCIT) The Revolutionary Communist International Tendency (RCIT)is a revolutionary combat organisation fighting for the liberation of the working class and all oppressed. It has national sections in a number of countries. The working class is composed of all those (and their families) who are forced to sell their labor power as wage earners to the capitalists. The RCIT stands on the theory and practice of the revolutionary workers’ movement associated with the names of Marx, Engels, Lenin, and Trotsky. Capitalism endangers our lives and the future of humanity. Unemployment, war, environmental disasters, hunger, and exploitation are all part of everyday life under capitalism as are the imperialistic oppression of nations, the national oppression of migrants, and the oppression of women, young people, and homosexuals. Therefore, we want to eliminate capitalism. The liberation of the working class and all oppressed is possible only in a classless society without exploitation and oppression. Such a society can only be established internationally. Therefore, the RCIT is fighting for a socialist revolution at home and around the world. This revolution must be carried out and lead by the working class, for only this class has the collective power to bring down the ruling class and build a socialist society. The revolution cannot proceed peacefully because a ruling class never has nor ever will voluntarily surrender its power. By necessity, therefore, the road to liberation includes armed rebellion and civil war against the capitalists. The RCIT is fighting for the establishment of workers’ and peasants’ republics, where the oppressed organize themselves in councils democratically elected in rank-and-file meetings in factories, neighbourhoods, and schools. These councils, in turn, elect and control the government and all other statue authorities, and always retain the right to recall them. Authentic socialism and communism have nothing to do with the so-called “socialism” that ruled in the Soviet Union and Eastern Europe, and which continues to do so in China and Cuba, for example. In these countries, the proletariat was and is dominated and oppressed by a privileged party bureaucracy. Under capitalism, the RCIT supports all efforts to improve the living conditions of the workers and oppressed, while simultaneously striving to overthrow this system based on economic exploitation of the masses. Towards these ends, we work from within the trade unions where we advocate class struggle, socialism, and workers’ democracy. But trade unions and social democracy are controlled by a bureaucracy perniciously connected with the state and capital via status, high-paying jobs, and other privileges. Thus, the trade union bureaucracy is far from the interests and living conditions of its members, based as it is on the top, privileged layers of the working class – a labor aristocracy which has no real interest in replacing capitalism. Therefore, the true struggle for the liberation of the working class, the toppling of capitalism and the establishment of socialism, must be based on the broad mass of the proletariat rather than their “representative” from the upper trade union strata. We also fight for the expropriation of the big land owners as well as for the nationalisation of the land and its distribution to the poor and landless peasants. Towards this goal we struggle for the independent organisation of the rural workers. We support national liberation movements against oppression. We also support the anti-imperialist struggles of oppressed peoples against the great powers. Within these movements we advocate a revolutionary leadership as an alternative to nationalist or reformist forces. While the RCIT strives for unity of action with other organizations, we are acutely aware that the policies of social democrats and pseudo-revolutionary groups are dangerous, and ultimately represent an obstacle to the emancipation of the working class, peasants, and the otherwise oppressed. In wars between imperialist states we take a revolutionary defeatist position: we do not support either side, but rather advocate the transformation of the war into a civil war against the ruling class in each of the warring states. In wars between imperialist powers (or their stooges) and a semi-colonial countries we stand for the defeat of the former and the victory of the oppressed countries. As communists, we maintain that the struggle against national oppression and all types of social oppression (women, youth, sexual minorities etc.) must be lead by the working class, because only the latter is capable of fomenting a revolutionarily change in society . Therefore, we consistently support working class-based revolutionary movements of the socially oppressed, while opposing the leadership of petty-bourgeois forces (feminism, nationalism, Islamism, etc.), who ultimately dance to the tune of the capitalists, and strive to replace them with revolutionary communist leadership. Only with a revolutionary party fighting as its leadership can the working class be victorious in its struggle for liberation. The establishment of such a party and the execution of a successful revolution, as it was demonstrated by the Bolsheviks in Russia under Lenin and Trotsky remain the models for revolutionary parties and revolutions in the 21st century. For new, revolutionary workers' parties in all countries! For a 5th Workers International to be founded on a revolutionary program! Join the RCIT! No future without socialism! No socialism without revolution! No revolution without a revolutionary party!
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