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Expropriation without compensation is the antithesis of a market economy. I trust the ANC will take note of a major speech by Chinese President Xi Jinping at a virtual Davos conference on January 25, when he argued for a strong, sustainable, inclusive — and market-led — world economy.

China therefore sees markets as compatible with its socialist system. As China is the world’s most successful economy, it follows that there is no position anywhere on the capitalist-socialist spectrum where markets should fall away. Clearly, China does not regard expropriation without compensation as belonging in a revolutionary repertoire...

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