China is the Ultimate Crony Capitalist State. Its banks, its energy companies, its construction companies, all the big stuff is dominated by an entrenched post-Mao aristocracy. Prices are obfuscated and graft is widespread – particularly the legal kind. Such a situation is fundamentally unstable.
Funny thing about gold – through war, peace, Marxism, Keynesianism, empire expansions and declines, people still want the “relic.”
Welcome to The Ultimate Crony Capitalist State. China is big government and big business fused together. It’s good to be a crony in China. On the outside however it’s a bit more challenging.
People around the world are coming to understand what crony capitalism is. This comes to us from Australia. The author still has a bit too much faith in government but generally he gets it.
Property rights are a key part of the foundation of a civilized society. Maybe China is making some progress on this front. Good for this guy.
And environmentalists – consider how defending property rights, instead of throwing in with the government (which is always connected to large interests) might further your cause – legitimately and without coercive force from the state.
(From The FT)
Chairman Mao’s legacy has became a battleground for “leftists” and “rightists” over the past year, 50 years after he launched the chaotic and violent Cultural Revolution. The rancorous debates come as current president Xi Jinping tightens control over the party and society. On Friday, censors closed down the social media accounts and website of a think-tank founded by 88-year-old economist Mao Yushi, a frequent target of neo-Maoists (and no relation with the Communist leader),
You’ve been warned.
It’s not supposed to be like this. What with the central planners of the Chinese Communist Party in charge. And yet like pretty much every really big government regime outside of the tiny Nordic countries (and even there sometimes) there is massive pollution.
In socialist countries the planners call the shots, and despite what many of our “progressive” friends might think, those in government don’t typically have “the public” in mind. This is the great myth. It’s as obvious as the smog hanging in the Beijing sky.
We shouldn’t even have a Commerce Department.
In fairness it’s not hard to be both an admirer of China and also a harsh critic. We’re in that camp.
My grandfather was actually one of the first westerners in China post-Cultural Revolution. The cuff links he was given by Chinese officials I wear to meetings often. They are inscribed with the Chinese symbol for “lucky.” I find much value in a couple of schools of thought that emerged from of China. I, like Mr. Ross, love China.
The Chinese Communist Party sees clearly the power of social media and it is trying to jam that genie back into the bottle. And as the fake “fake news” campaign, and Ms. Clinton’s “deplorables” statement has shown, the Chinese powers that be aren’t the only ones who see social media as something that needs to be controlled.
Some people think central planning is good for the environment. The Soviet Union, Eastern Europe and now (and perhaps especially) China show that is a rather silly notion.
Central planning means no feedback loop. It means bureaucrats run amok and crushing dissent. Free prices, free enterprise, REALITY, is much better for the environment pretty much any way one cuts it.