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It is very interesting to me how the perspective of the Chinese government seems to be that they should run their entire sovereignty like a business. Some polit
by zwkrt 8y ago
It is very interesting to me how the perspective of the Chinese government seems to be that they should run their entire sovereignty like a business. Some politicians in the US claim to want to run /government/ like a business, but China seems happy to run the entire country as one.
In China we effectively have a CEO in Xi Jinping, beholden to the board of investors that is the global economy. And the same forces are at play. China can punt on ethics so long as the return is good, and they have pressure to keep growing. So long as the banks are happy the game continues.
The global investment-backed economy is efficient for allocating resources for the purposes of increasing monetary value but it will always introduce a moral hazard since short term returns will usually be better when corners are cut.
- talloaktrees 8y agoXiang?
- wonderwonder 8y agoChina runs it's country exactly like a business. People are just widgets they make. If the widget is defective they throw it away. If an entire batch of widgets is defective, they will throw away (kill or put in camps) the entire assembly line rather than risk it damaging the other widgets.
- tivert 8y ago> In China we effectively have a CEO in Xi Jinping, beholden to the board of investors that is the global economy. I don't think Xi or the Communist Party view themselves as "beholden to the board of investors that is the global economy." Maybe they have use for those investors now, but they're working to make that temporary.