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  • Nick Sorrentino

Foolish: Some in the West think China's crony capitalist/socialist system is the way forward.





China is the world's Ultimate Crony Capitalist State. The Party controls all but allows some economic freedom when it serves the interests of the rulers in Beijing. To the degree that real capitalism has shown through here and there it has made China a better place. However, the people of China do suffer under the yoke of an oppressive government that in many respects manages every little bit of the lives of its "citizens". The new social credit scoring system litterally penalizes people for drinking too much or for saying the wrong things online. China's environment is a disaster. Most of the rivers in the country are toxic in a serious way. As many as a million people are reportedly being held in what can only be called concentration camps. And one still can't see a picture of Tank Man online in China.


China is the dystopian way "forward".





(From The Financial Post)
After the speech, immediate commentary focused on reading the Chinese tea leaves in search of relevance to global trade, stock market reaction, economic growth and power politics within China.
Missed in these reactions was a more important issue. The West’s greatest China risk is not trade or military threats. The greatest risk China poses to the relatively free-market private-enterprise West is ideological — a risk embedded in Xi’s description of how China rose from poverty to become a world economic power by aggressively pursuing state interventionism and control policies.

6 years ago we heard Andy Stern, the former head of the SEIU singing the praises of the China in classic Obama era lefty crony fashion. Now we hear some people of what might be called the "Right" lauding interventionist economic policy like China's. This flirtation with totalitarianism is dangerous in the extreme, particularly for those of us who feel like liberty and freedom are things worth preserving.


It's also real easy to hit economic targets when the government determines the numbers. Much of China is hidden. Much of economic China is manipulated for propaganda purposes. Much of China remains very poor. Much of China is restive. Much of China lives its life in fear.


China is a state run and ruled by a crony class, a marxist aristocricy lining its pockets while expanding the power of the state. Sounds like almost any large city in the USA these days - sadly.