Members of Kibbutz Hanita near Israel’s northern border are demanding $11 million from Ballet Vision, the Chinese fund that controls 80% of the Hanita Lenses plant, accusing it of refusing to exercise an option to purchase the kibbutz’s remaining shares, according to a lawsuit filed in Tel Aviv District Court.
In a response letter attached to the lawsuit, the Chinese fund said that since the outbreak of the war in Israel, Beijing has classified Israel as a “high-risk area” and imposed a ban on any new Chinese investments in the country, making it impossible to carry out the option.
According to the lawsuit, in 2021 the kibbutz sold 74% of Hanita Lenses, which manufactures intraocular lenses for medical use, to Ballet Vision for $35 million. Of that sum, $25 million was paid to kibbutz members, with an additional $10 million injected into the company.
Before reading the article I was getting a glimmer of respect that China was having some kind of moral epiphany… but of course it’s only about money.
capitalists gonna capitalist.
The PRC is socialist, public ownership is the principle aspect of the economy and the working classes control the state.
Wait… wait, are you implying that the working class controls the state in PRC?
Not implying, stating. In China, they have direct elections for local representatives, which elect further “rungs,” laddering to the top. The top then has mass polling and opinion gathering. This combination of top-down and bottom-up democracy ensures effective results. For more on this, see Professor Roland Boer’s Socialism in Power: On the History and Theory of Socialist Governance. The government itself has no capitalists in the top positions either:
This system has achieved fantastic metrics, such as over 90% of the citizenry supporting the government. This also shows why perceptions around democracy are so much higher in China than the west:
So yes, the working classes do control the state in China.
Removed by mod
You’re not helping yourself here. It seems like you actually know nothing about how China’s government system works. Maybe try to explain it instead of just talking about the US.
Oh, really? When did we start doing that?
The US isn’t democratic, the state is run by capitalists and the two major parties are subservient to capital. You can even see the effects of this with how low approval rates are for the government, and much lower perceptions of democracy. The reason the working classes in China can maintain such strong control over the state is because public ownership is the principle aspect of the economy, and the working class party overthrew the nationalists back in 1949. What part of what I said is “peddling bullshit?”
Oh shit I didn’t realize this was Cowbee!
Cool?
capitalism with a very short leash can be useful; what matters is who holds the leash.