The Chinese may not be quite as successful as they appear

April 25, 2021 By Andrea Widburg 

From where we sit today, with a feckless president sliding into dementia, whose family has received billions from the Chinese and who may be caught in the web of blackmail for his, or his son’s, sexual predilections, China is in the catbird seat and we are doomed. Perhaps, though, China is not as all-powerful or impregnable as it appears. Totalitarian societies have serious structural problems and China is showing all of them.

My initial premise is that there is no better system for wealth creation than the free market. Before leftists shackled America with punitive wealth transfer taxes and harmful trade agreements, America’s free-market led the world in dynamism. It was innovative, affordable, and moved humanity forward in wonderful ways. It truly was the magical Carousel of Progress that Walt Disney personally envisioned for the 1964 World’s Fair. I first saw the show in 1970, when I was a child, and I was overwhelmed by the wonder of it all. This was America, with all its promise:

China too seems to be bursting with progress, innovation, and overseas accomplishments. Except that it’s not true; not true at all.

What China has is a totalitarian mercantilist system – or let’s just be honest and call it fascism. It’s no longer purely communist insofar as China has allowed a private sector to develop and it supports wealth creation. However, while individuals can make a profit, the government still controls the private sector, underwriting it and dictating how it may operate. This underwriting allows it to compete in the world...........To Read More....