State “capitalism” at it’s best: China Accidentally Built a Housing Complex in the Middle of a Highway (Photo)

China is a land of wonders. The joys of state capitalism abound in the ultimate crony capitalist state. Witness this gem of planning, a lovely condo placed smack dab in the middle of a massive highway.  Very nice.

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China’s economic data “Willfully fraudulent”

Well I can’t believe it. You mean the economic data from the world’s Ultimate Crony Capitalist State is intentionally incorrect? You mean China’s entire economy might be overstated by 10-12%? (Doesn’t that put Japan back into the number 2 slot?) You mean those ghost city stories are for real? That the red dragon, though not toothless is lacking much of the fire we thought it had? I am shocked.

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This Is a Managed Economy – Note Smuggled from Chinese Labor Camp in Decorations Pleads for Help

An American woman unwrapping Halloween decorations bought from K-Mart earlier this year found a note which appears to have been written by someone working in a Chinese forced labor camp. It desperately asks the world to pay attention.

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The USA Should Shun, Not Embrace China’s Crony Capitalist Economic Policies

How can America compete with China’s subsidized industries in the 21st Century? Surely we will be left behind and the Red Dragon will come back to swallow us into its state-capitalism fed belly.

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Pankaj Mishra Tries to Defend State Capitalism Again, Fails Again

In his most recent column entitled Don’t Like State Capitalism? Blame the West Mr. Mishra again tries to defend an economic system within which the state is the primary driver of the economy. He again offers us examples such as Singapore, Japan, Korea, and of course China as how state centered capitalism can work. I answered this argument in a prior piece HERE

Mishra makes the same argument again,

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The Cult of State Capitalism Rears Its Ugly Head in Bloomberg

I suppose that one should expect this sort of thing from a publication founded by the current mayor of New York, who appears himself to be anything but a free marketeer.

As I read the attached essay by Pankaj Mishra I was struck by the utter delusion of the author. He holds up Japan as a good example of how a country should do business. Yes, that is correct, the country which for 2 decades has been mired in near recession.

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