This week’s edition of the Economist has another lovey-dovey article on why Chinese acquisitions are a benign and beneficient form of capitalism. It would seem that the Economist has joined the ranks of the acquired, or at least can’t wait for it to happen.
I have no beef with capitalism and free trade. But ultimately we live in a world where finance can determine the direction and quality of life for vast numbers of people. If American firms had not actively collaborated with the Nazi regime (in supplying raw materials, technology and capital) perhaps their extermination camps might have been less efficient.
As for the blasé opinion that China is CINO – Communist in Name Only – let’s see if the editors of the Economist walk back their words the next time there is civil insurrection in China and the brutal suppression that follows. Then again when you are accustomed to wearing $ tinted glasses, events always have a way of seeming rosy – no matter the human cost involved.