The Communist cadres would have fought to the death to prevent such an abomination from coming into existence. There is no Communist government anywhere, now or in the past, that could possibly justify such a thing unless they had completely fallen into sin and corruption, or unless it was part of a larger plot to destroy the West by emphasizing the contradictions of decadent Western Capitalism.
And yet today we are watching the spectacle of a stock market in Communist China which is doing a very good imitation of a meltdown. Not only does this alleged Communist government have a stock market but it is also providing services to the world economy which exploits the tremendous spirit and hard work of their people who are organized in a fashion akin to slave labor.
Truly if this is the case, then Marx and Engels must be in a continuous spin in their graves to witness this self-betrayal. No believer in the worker's paradise could for a moment be confused into thinking that this was a legitimate technique of a nominally Communist government. Something else must be going on.
In the last week or so, this market, the Chinese stock market, has experienced a classic panic and lost tremendous value. And in so doing, it has spread uncertainty to other markets in the world causing them to also experience a sudden downturn and sending otherwise complacent exploiters of labor into a tizzy of fear and rage.
And yet it could be no surprise, in a sense, that a market would implode under stress of rumors or insane financial policies, because markets of this type always do this, eventually. The question is not if, but when.
Today the sophisticated and worldly financier can look at market panics and economic collapse as merely a charming affectation of the blessings of Adam Smith and the Free Market. Ok so the world economy collapses every 20 years or so because of inherent instability in unregulated markets, but that is a small price to pay for the freedom we have in this country to outlaw labor unions and prevent our government from providing health care.
But if these events were happening in the cold war, and originating as they do in a nominally Communist country, which say what you will, has a lot invested in not believing in the mythology of the unregulated market, someone would have constructed a narrative of communist conspiracy that suggested that what we were witnessing was obviously not an accident or a mistake, but a part of a sinister plot created by the International Communist Menace in general, and the Chinese in particular, filled as they are with hatred of The American Way.
So out of respect for those ways of thinking from 50 years ago, here is my guess of how the Communist plot might have been structured and presented to the American People.
The accusation would be made that the Chinese (more properly the CCP, the Chinese Communist Party) was actually causing these events to happen as part of a plan to destroy the world economy, force their political system on us, and force us all to have health care.
This plot would be said to have many stages leading us to this dark day.
Now, with another world-wide depression, it will be no trouble for your Communist cells to find desperate people to cause revolution and put your freedom hating communist party in power which is the first step towards imposing gun control laws and health care on the newly oppressed people of the world.
The above is one way that events in the world today might have been perceived in the Cold War, at least by some of our more conspiracy-minded Cold Warriors.
We live in a very strange time in American and the world. I think it is much stranger than we, who are immersed in it every day, realize. And I cite to you by example the fact that the last major Communist nation in the world should in fact both have a stock exchange and be suffering from the classic instability of an unregulated finance market. Say what you will, explain it however you care to, but I think it is fair to say that this is a very weird situation.