While the world’s largest economy (a.k.a. the United States) continues its descent into welfare statist, crony capitalist socialism … the world’s second largest economy (a.k.a. China) is headed in the opposite direction.
Ships passing in the night, if you will …
In a story that got very little attention from the mainstream media over the Memorial Day weekend, the new leader of the People’s Republic of China – a nation which holds a significant chunk of our national debt, it’s worth noting – issued a directive to his centralized banking system urging it to “promote the effective entry of private capital into finance, energy, railways, telecommunications and other spheres.”
In other words, the exact opposite of what America is doing.
Li Keqiang, who took over as Chinese premier earlier this year, says his people are anxiously awaiting the implementation of these market-based reforms.
Wow … the times, they are a-changing people.
As China continues the process of boldly shedding its command economic chains, the United States is becoming increasingly shackled (with Chinese lenders subsidizing the deficit spending necessary for American politicians to ramp up this economic enslavement).
Wonder how this is gonna end?
Don’t … this history has already been written.