No better way to summarize China

Capturing the diversity and dynamism of a country the size of China is not an easy feat.

This week’s announcement from the People’s Daily is likely to achieve it: the online avatar of the Chinese Communist Party’s (People’s Daily Online) is going to be listed on the Shanghai stock exchange.

For many one of the CCP’s mouthpieces embracing capitalism may seem a contradiction in terms or, worse, the proof that the Party has definitevely distanced itself from Marxism-Leninism. It shouldn’t. Symbolism aside, the People’s Daily is not very much different than any other state-owned enterprise listed on the stock exchange: it is majority-owned (and controlled) by the government raising capital where it is available. In fact, it is a similar story than with the Internet where the government has always shown its intent to embrace it while controlling it.

One can’t get more pragmatic than that!