The world was led to believe Deng Xiaoping [1904–97])that China would adopt free markets, foreign investment and private ownership within a system of “socialism with Chinese characteristics”. Instead, because of the negligence of the Communist Party, the people of China were assaulted with a perverse model of state capitalism with rent-seeking characteristics. The latest “reform” drives China further down the road to an unsustainable economic process which will end in tears for the Politburo in Beijing.
There is increasing talk about what would trigger the next world war, a risk that was on my mind during my visit to China. I spell the risks out in this video. The Financial Times reported on October 9 that the US Government has taken the decision to sail its Navy within the 12-mile limit […]
Every organism that survives by consuming energy needs a feedback mechanism that ensures operational stability. To monitor the internal pressure – blood-pressure, steam pressure, whatever – a gauge is needed. For the market economy, the price of “land” is the most comprehensive indicator of the health of society at large. So why do governments like […]
How can the West stop post-communist China from challenging the global hegemony of the US, and from further demolishing the productive capacity of Europe’s economies? Reform proposals urged on China’s leaders in the current edition of The Economist (the influential London economics magazine) provides the master plan for causing China to self-destruct. The Economist is […]
It happened in Europe in the 16th century. It happened in Russia in the 1990s. And now it is happening in China before our very eyes – the predatory rent-seeking culture being incubated to divide a nation between rich and poor. But the game is not yet up for China. Can the Politburo pull off […]
TWICE in the last 150 years, global depressions contributed to the outbreak of world wars. Can it happen again? The first depression, in the 1870s, began when Europe was flooded with cheaper agricultural products from the rest of the world. Governments had no Plan A to defend their economies, so national pride was allowed to […]