How does one know when the world has been turned completely upside down? How about when USA Today reports a major world leader (not the president of the United States) saying this:"'We need to make sure the market plays a decisive role,' said X in a nationally televised speech to --- legislature. He promised to 'break mental shackles and vested interests' — a reference to possible resistance from state companies that might lose subsidies and monopolies."
Any idea who USA Today is quoting? Believe it or not, that quote is from Chinese Premier Li Keqiang, describing China's new national economic strategy.
Capitalism in communist China
China's regime remains officially a communist government, but the country's leaders long ago recognized that economic freedom is essential to economic growth.
According to the same USA Today report, Li's remarks included details of a process of "opening state-dominated industries to private investment and making banks more market-oriented."
In other words, China's leaders have recognized, at least in some key economic sectors, that private enterprise is more efficient and productive than state enterprise.
Is Obama listening?
Li's remarks coincide with President Obama's month-late release of his 2015 federal budget proposal. It seeks $3.9 trillion worth of European-style spending, taxing and regulation.
Taxes go up, spending by government explodes, debt grows ever higher and the bureaucrats issue thousands of new regulations to strait-jacket the same private enterprise system that communist China is liberating.
(Click link below to read more)
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