Status Updates From The Endless Crisis: How Mon...

"Privatization of state assets and the robbing of state enterprises have produced enormous wealth at the top in China...More than 90 percent of the richest 20,000 people in China are said to be 'related to senior government or Communist Party officials,' creating a whole class of millionaires and billionaire 'princelings'...land expropriated from farmers for sale to developers has enriched...local officials."

"Even the most optimistic long-run projections---in which China and India (along with other emerging economies) are able to leap to the next stage of accumulation without further class polarization and destabilization---nonetheless point to insurmountable problems of maturity, stagnation, and financialization (not to mention the overwhelming of planetary resources)."