"In the United States, there is a widely shared perception that China has abandoned socialism and that it has become a Wild West-style, capitalist free-for-all. That's wrong. True, US multinationals, among others, are sidling up cheek by jowl to invest and build factories in China, both for export and to supply China's 1.3 billion consumers. (More than a hundred US Fortune 500 companies operate in Chongqinq already, including Hewlett-Packard, whose laptop assembly plant here will produce 10 million computers a year, Chongqing officials say.) But the fact remains that in China, all of the key industries are government-owned: banks, energy, oil, transport, telecommunications (including China's huge cell phone company, which will soon have its 500 millionth subscriber). China's banking system – which includes four or five giant national banks, 17 mid-sized commercial banks, and about 140 city commercial banks – sailed serenely through the worldwide crisis of 2008-2009. Virtually none of it was exposed to the bad debt and high-flying securities speculation bubble that collapsed AIG, Lehman, and countless other players."Chongqing: Socialism in One City
That SF nomination for Taoiseach
for 4 timer siden
Ingen kommentarer:
Legg inn en kommentar