Liberal leadership candidate Mark Carney on Wednesday made an announcement that mirrored a statement by Chinese President Xi Jinping earlier the same week.
Both politicians emphasized the importance of “investing in the private sector,” with Carney’s comments coming closely on the heels of Xi. The key difference is, there is no private sector in China — all companies, big or small, are beholden to the Chinese Communist Party (CCP).
Carney this week said his government would “invest more” in Canada’s private sector — placing the same emphasis on national businesses as the Chinese chairman.
“What we’re looking to be much more disciplined around is the programs of the government, or any direct investment of the government, that it catalyzes many multiples of private investment.”
“And as a consequence of that, it’s growing our economy.”
On Monday, two days before Carney’s announcement, China Daily, the CCP’s media arm, reported Xi “has reiterated China's commitment to boosting the private sector through concrete efforts to implement supportive policies and measures.”
Xi made his remarks in Beijing at a private enterprises symposium attended by executives from Huawei, Xiaomi and other tech giants.
“Xi said the government's basic principles and policies concerning the development of the private economy have been incorporated into the system of Socialism with Chinese Characteristics and will consistently be upheld and fulfilled.”
“They cannot and will not be changed, he said, noting that obstacles should be removed in order to facilitate private enterprises.
China’s distinct strand of socialism, Socialism with Chinese Characteristics, first began to ferment under Mao Zedong, who ruled until his death in 1976, but was formally established in 1982 under Deng Xiaoping.
According to CCP literature, Socialism with Chinese characteristics is Marxism adapted to fit Chinese culture with an aim of economic growth for the state through foreign investment into its “private sector.”
Xi, however, took the doctrine to a new level, with Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, which incorporates aspects of Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory and the scientific outlook on development “to strive for the great rejuvenation of the Chinese nation.”
Carney has been Prime Minister Justin Trudeau’s economic advisor since 2020 — a prime minister who earlier said he “admires China’s basic dictatorship” that “allows them to turn their economy around on a dime.”
Another curious point for contrast is that Xi was selected by the party, not the people. The same will be the case for Carney, should he win the March 9 Liberal leadership race.