I agreed with every thing you said about the nature of China today. 
The only think I would want to add was to your remark:

>       Despite its obvious shortcomings, I still happen to view China as a
> socialist country, though just hanging on, and retain the perspective
> that it remains possible for China to once again reverse direction to
> the left*only this time on the basis of a considerably more advanced
> economy and a much larger proportion of the population in the working
> class.

I think to reverse the situation would require a massive change in 
direction. Once Capital has its hold on any other economic system by 
its very nature it will take hold and destroy that system - it is 
always parasitic. And it will destroy Socialism if allowed to festor 
just like it destroyed Feudalism. to do nothing is to allow it to 
grow. It doesn't matter if one looks at China or a North Korea, Cuba, 
Vietnam, etc. unless the people actually do something to actively 
surpress the spread of Capital it will surely rampage throughout the 

These countries, in their isolation and in the absolute need for them 
to survive free from direct intervention from Imperialism will -
without future revolutions in other countries - eventually cease to 
be socialist at all. I think that would be a further defeat for 
socialism throughout the world - but that, I'm afraid, is the times 
we live in. But we should be under the illussion that these countries 
can make a political choice to remain socialist and yet economically 
to be allowing greater and greater access for Capital.

Yours still hoping,


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