State Capitalism, A Primer

My bottom line? You have two of the strongest economies in the world:

• One, an aging, but still attractive U.S. economy, which sold its manufacturing capability so that a short list of people could grow even richer than rich (and a whole lot of people could feel like they're still getting even with the hippies); and


• The other, a young, supple, my-best-years-are-ahead-of-me Chinese economy, which bought the U.S. manufacturing capability — because, well, it was for sale.

Both are now poised to duke it out over the next 30 years or so. The difference between them? In China, everyone serves the national interest. In the U.S., no one does. More here.

Read the ENTIRE piece. It's by a new writer over at AMERICAblog, and he is really spot on.