The West, represented by the U.S. of A., and the East, sort of represented by China, are at different places on the same spectrum.
At one end is complete freedom (Capitalism). At the other end is complete regulation (Socialism). In the 19th century, when a lot of freedom existed, the U.S., in just a few generations, became the most prosperous nation in the world. Class barriers disintegrated. Under the iron-clad law that ‘people build civilizations and governments destroy them’, the government then began regulating. Today, the resultant and growing U.S. poverty and wealth gap is clear for all to see.
In 1949, the latest iteration of China began at the opposite end. Under Mao there was complete regulation, resulting in the death by socialism of millions of people – 100 million by some estimates. Deng Xiaoping, the boss of China from Mao’s death in 1976 through to 1989, oversaw the deregulation of markets sufficient to allow for a level of Capitalist prosperity. Now, Xi JinStalin, has reversed Deng’s course and is pushing China back toward more central control and regulation. China’s already unpayable debt will rise even further. The Chinese people will pay, yet again, a horrible price. On top of that is the demographic disaster dictated by the CCP’s one child per family. China’s problems are going from bad to worse.
I have, for many years, predicted that China would be the first economic domino to fall. The only thing that gives me any doubt is that a lot of others are starting to make the same call. Beware the majority. I found THIS a particularly good article. It’s well fleshed out.
Both West and East are now on the same trajectory – toward full-blown regulation with poverty, death and disease for all but a small elite – for as long as they can avoid being torn limb from limb by an enraged populace. China is in the lead, but the U.S. and the West are not far behind. Build Back Better translates as: Regulate, Regulate, Regulate.
Putin must be chuckling over his schnapps.