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March 31, 2010
Can China Make a Buck or Two?
It’s also amazing how unprofitable such a country can be.The Chinese system, like the Japanese system before it, works on bulk, churn, maximum employment and market share. The U.S. system of attempting to maximize return on investment through efficiency and profit stands in contrast. The American result is sufficient economic stability to be able to suffer through recessions and emerge stronger. The Chinese result is social stability that wobbles precipitously when exposed to economic hardship. The Chinese people rebel when work is not available and conditions reach extremes. It must be remembered that of China’s 1.3 billion people, more than 600 million urban citizens live on an average of about $7 a day, while 700 million rural people live on an average of $2 a day, and that is according to Beijing’s own well-scrubbed statistics. -- China: Crunch Time | STRATFOR
Posted by Vanderleun at March 31, 2010 2:15 AM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
Private capitalism, by its very nature, limits government.
The shivering ghost that now inhabits the words laissez faire was once an unconquerable fighting spirit. It did not belong to capitalism. It belonged to liberty; and to this day its association with capitalism is valid only insofar as capitalism represents liberty--
Garet Garrett
Posted by: james wilson at March 31, 2010 6:22 AM
Good find James. For anybody who hasn't read The Bubble that Broke the World also by Mr. Garrett, it's available in pdf at the link. Remember when reading that US 1930=China 2010, Germany 1930=US 2010.
Posted by: SovietofWashington at March 31, 2010 10:07 AM