[quote=briansd1]The rise of China is the great social political and economic story our times, perhaps greater than the fall of Soviet Union, IMO.
For the last 20 years, we’ve heard about possible political and economic collapse in China. But the Chinese state capitalists have reinvented themselves and have been powering on.
The transition to a consumer economy will be the great test of China’s leaders.
Brian: China is a Potemkin village. And there is no such thing as “Chinese state capitalists”. You can attempt to delude yourself into believing this is so, but this is an authoritarian Communist regime, make no mistake.
If you think there is any actual “capitalism” going on in China, you clearly haven’t been there in a while or been there at all. When all of those bad loans finally come due, you are going to hear a crashing sound unlike any you’ve ever heard before.
As with everything else in life: The facts are the facts, and fundamentals are fundamentals.
