Communism more economically viable than Capitalism?

[BoyNextDoor]

Chinese banks' profits soar amid euro crisis

The world's most profitable bank Industrial Commercial Bank of China made $43.2 billion in pre-tax profits last year, followed by China Construction Bank Corporation and the Bank of China, which took in $34.8 billion and $26.8 billion respectively.
JP Morgan Chase and Co. of the United States took fourth while the Agricultural Bank of China rounded out the top five.

I thought finance was the hallmark of Capitalism? 4 of the top 5 Banks in the world are in China. Makes you think ....

 

[sufisaint]

Yes and if you want the trains to run on time support your local NAZI party

 

[bronzeage]

Chinese banks' profits soar amid euro crisis

The world's most profitable bank Industrial Commercial Bank of China made $43.2 billion in pre-tax profits last year, followed by China Construction Bank Corporation and the Bank of China, which took in $34.8 billion and $26.8 billion respectively.
JP Morgan Chase and Co. of the United States took fourth while the Agricultural Bank of China rounded out the top five.

I thought finance was the hallmark of Capitalism? 4 of the top 5 Banks in the world are in China. Makes you think ....

That must have hurt.

The only thing communist about Chinese banks is the color of the door. I'm sure if our banks were allowed to create financial statements without worrying if anyone would check the numbers, there would be a lot more profits here, too.

 

[eyer]

I thought finance was the hallmark of Capitalism? 4 of the top 5 Banks in the world are in China. Makes you think ....

Factually, "the hallmark of Capitalism" is individual ownership of economic transaction...

...sorry to pop your Red balloon.

 

[Mrtenant]

yep, thought about how with a billion or so more people, it might be easier to show lotsa big numbers in cash...

 

[KingOrfeo]

Factually, "the hallmark of Capitalism" is individual ownership of economic transaction...

...sorry to pop your Red balloon.

No, it isn't, actually. See state capitalism. Capitalism does not mean simply any economic activity independent of the state. There was no capitalism in the medieval Europe; no state worth mentioning, either.