“Now, conversely, what's interesting is Chinese Communism, on the surface, it looks like Soviet Communism versus American Capitalism all over again, where the Chinese actually do look at the absolute numbers of widgets as one of the key variables in their system. Like, they're looking at production, physical production.
But why is it, why is Chinese Communism working this century and American Capitalism not, whereas it was in reverse the past century? And it argues because Chinese Communism is fundamentally disciplined by international markets. They crank out all these cars, they crank out all these ships, but they have to sell them abroad, right?
So even if it looks like they're cranking out widgets like the Soviets were, the fundamental differences, they're Capitalist abroad. By contrast, the Americans have essentially destroyed Capitalism within their system with the money printing. So they're actually Communist, but it looks Capitalist and the Chinese are Capitalist, but it looks Communist.”
From The Bitcoin Standard Podcast: 303. The Network State with Balaji Srinivasan, Dec 9, 2025
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