I find the following article (http://www.nytimes.com/2013/05/25/business/global/beijing-signals-a-shift-on-economic-policy.html?nl=todaysheadlines&emc=edit_th_20130525) very interesting… Even a little alarming. If private market forces work as well as I believe they do, then China is destined to become an even greater economic force. This will have both positive and negative effects on the USA. Positive for some businesses and consumers, but negative on the USA’s current / dominate position in the world economy.
Lisa and I visited China in 2005. In the places we visited, some merchants were doing an uncanny level of business. On some avenues, merchants controlled the number of customers entering their stores by lowering security gates; lifting only to allow someone to exit or enter. Where in the USA has anyone seen that type of volume (except perhaps Best Buy at Christmas)?
Here’s an interesting observation: If one were to exchange the word “China” with “USA” throughout the article, at first blush, the article could have be written about the USA or another westernized country. Perhaps the East and West have more in common than we realize or are willing to admit.
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May 25, 2013, 2013 at 12:26 PM