...it will seem obvious to historians that this was a plutocratic oligarchy that was able to convince its populace (via censorship and propaganda) that its platonic theory of justice ("everyone know their place") just long enough to create a fully-fledged export economy and concentrate wealth almost exclusively among the ruling communist party...then things went very, very wrong...
China’s economic growth since the turn of the 21st century has been staggering. The values of some of its largest companies, both publicly-traded or solely government-controlled, are equally staggering. But according to a recent study by an independent Chinese think-tank called the Unirule Institute of Economics, China’s economic miracle may not be all its cracked up to be, at least as far as some of its largest companies are concerned.
Massive state-controlled Chinese companies like China National Petroleum Corp., or CNPC; China Petroleum and Chemical Corp. (NYSE: SNP), or Sinopec; Aluminum Corporation of China Ltd. (NYSE: ACH), or Chalco; China Mobile Ltd. (NYSE: CHL); China Telecom Corp. Ltd. (NYSE: CHA); and China United Network Communications Group Co. Ltd. are among the 10 state-owned enterprises (SOEs) that account for 70% of all net profits for SOEs for the years 2001-2008. Just two companies, Sinopec and China Mobile, account for a third of the profits
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