Monday, April 30, 2012

Modern China, economic speculation, and the history of capitalism.

This is what it is like to be living in Beijing in the time of Bo. China is undergoing its biggest political crisis since the 1989 Tiananmen massacre, as wild supposition mixes with outlandish facts to shift the city’s rumor mill into overdrive. Young Chinese in stylish bars, antsy American investors, civil servants, students, and entrepreneurs all swap stories of political backstabbing and collusion. There’s a feeling of nervous anticipation for what lies ahead. The fact that no one seems to know how things will unfold makes the frisson only stronger.

Why do I have a feeling that this better encapsulates the history of what capitalism has actually looked like via reporters on the ground throughout history; far better than the nonexistent Adam Smith inspired Free Market utopia conservatives like to champion.

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