Tuesday
As I predicted over twenty years ago (to much scorn), the Chinese centrally planned economy is falling apart. Why anyone ever believed that China would be the next economic ‘power house’ is beyond rational contemplation.
Centrally planned economies have failed in the U.S.S.R., Cuba, Venezuela, Vietnam, East Germany… the list goes on and on.
Imprint this upon your memory – government planning of anything, let alone something as important as a national economy, does not work.
So why would the Chinese economy have been any different?
It wasn’t, and it isn’t.
The Chinese economy will fail as surely as predictions of climate apocalypse brought about by man-made carbon dioxide emissions will fail.
The world is going through a spectacularly silly phase.
It’s almost akin to the lovely child who turns into a teenage monster for a few years.
Let us hope that we are on the cusp of a more mature age – a more rational age.
I am not full of hope.