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How China has ‘throttled’ its private sector (www.ft.com)

submitted 1 week ago by [email protected] to c/[email protected]

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Financial Times reported the growth of the state-owned sector in regards to the private-owned sector, which at first I see as very good news.

However, I wanted to know what is happening to the tech sector, is the state absorbing it, or is it simply being abandoned? What is happening to tech workers, including biotech and robotics? It's very hard to find good information on China.

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[–] [email protected] 16 points 1 week ago* (last edited 1 week ago) (1 children)

However, I wanted to know what is happening to the tech sector, is the state absorbing it, or is it simply being abandoned?

The tech sector is only being “throttled” from the perspective of haute bourgeoisie largess, because the Chinese state is coming for them through taxation. In reality, of late the Chinese state claims to be doubling down on the tech sector, while letting the property development/speculation sector hang out to dry.

[–] [email protected] 4 points 1 week ago

I think it's very good to have VC funds to bleed, as well as many speculators to get heavily taxed and even imprisoned. But I was worried about tech workers in China, a few months back I heard it was really difficult to get a job.