Tuesday, November 16, 2010

The Wall Street Journal Leads a Whine About China

Again, reminding one of the bully who finally gets punched in the nose, and runs off crying.

The article title, "China's 'State Capitalism' Sparks a Global Backlash", starts things off on a weepy note.

Since the end of the Cold War, the world's powers have generally agreed on the wisdom of letting market competition—more than government planning—shape economic outcomes. China's national economic strategy is disrupting that consensus...
Charlene Barshefsky, who as U.S. trade representative under President Bill Clinton helped negotiate China's 2001 entry into the World Trade Organization, says the rise of powerful state-led economies like China and Russia is undermining the established post-World War II trading system. When these economies decide that "entire new industries should be created by the government," says Ms. Barshefsky, it tilts the playing field against the private sector.

So when the Chinese government invests in its national industries and defeats its economic competition in the West - 'It's not fair ! They are cheating !'.

For we know that America only does state investment when it comes militarism - an export sector we not coincidentally dominate.

1'China's 'State Capitalism' Sparks a Global Backlash' - WSJ

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