“The Chinese have proven the effectiveness of their public banking system in supporting their industries and their workers”
“Japan proposed its model for the former communist countries, and many began looking to it and to South Korea as viable alternatives to the U.S. free-market system. State-guided capitalism provided for the general welfare without destroying capitalist incentive.
“The Tiger economies were a major embarrassment to the IMF free-market model.
Their very success in blending private enterprise with a strong state economic role was a threat to the IMF free-market agenda.
So long as the Tigers appeared to succeed with a model based on a strong state role, the former communist states and others could argue against taking the extreme IMF course.
In east Asia during the 1980s, economic growth rates of 7-8 per cent per year, rising social security, universal education and a high worker productivity were all backed by state guidance and planning, albeit in a market economy – an Asian form of benevolent paternalism.”
“US decision to impose added tariffs on more than $300 billion of China trade, and the US Treasury declaring China a “currency manipulator”, global financial markets have reacted with sharp selling.” (source)
Of course – China is not a democracy.
Chinese people – but also Europeans – do not enjoy the (sometimes insane) freedoms (of buying shotguns at supermarkets) that US people have (if they would have the money… but private banks can not fund limitless US consumerism).
But yes – less freedom in China – more state control and surveillance, but that is an “official” fact.
An “unofficial” fact is: that western democracies simply do not care about their own laws and engage in mass surveillance unlawfully.
Western politicians make decisions not only against the will of the public – but also to the damage of the public – the average Joe and Jill – in order to exploit exploit and enrich a small elite that can afford lobbyists (the already rich and big companies).
Both “systems” try to manipulate their citizens with propaganda and state created terrorist attacks.
Both systems fail to keep speculation bubbles (housing bubbles) under control.
Housing is essential for people to survive and if they have to spend more than 30% on rent – it is not only unfair and exploitation, it is creating housing bubbles – one that the world has seen burst in 2008/2009 subprime crisis.
Nobody wants to see this happening again but too little is done by politics to prevent it.
In London 40.000 flats and houses remain empty, they are simply for parking the money of the super rich.
In Germany real estate speculations have caused people to leave their home towns and “wander around” because they can not afford the housing anymore in Munich.
Wages are rising in China – not so much in the Western Worlds.
Bank of North Dakota:
But to have a public bank (at least one) is a good idea.
There would be no Solar Panels in Germany without a public bank.
So, why does “The West” not want to learn and stay a stubborn kid forever?
always ask: Cui bono? = Who profits?
Who profits from:
“free market” in all it’s meaning
complete dependence on private Banks for private loans
abolishment of all (trade) barriers (United States of Europe)
companies competing to the death, going bankrupt (to buy them cheap)?
One answer: The super rich – that own the large companies, the monopolists.