[TigerLikesRooster]

When vested interests trump anything else, it would lead to a disaster eventually. We see it in the still-unfolding current financial crisis.

[TigerLikesRooster]

P!

[Wolfie]

They should change the name to Congress.

[resistance]

Congress’s top leadership have carved up the USA’s economic ‘pie,’” the US embassy contact said, “creating an ossified system in which ‘vested interests’ drove decision-making and impeded reform as leaders maneuvered to ensure that those interests were not threatened.” The US embassy contact also asserted there were no “reformers” within the top Communist Party leadership, only competing factions that sought to protect their business empires from attack by in-coming leaderships.

Fixed it!

[Little Ray]

This is supposed to be surprising?

I think China has always been run this way, with occasional interregnums.

[Uncle Miltie]

I keep liking the unvarnished truths finally spoken through Wikileaks.

[PapaBear3625]

The word which describes China's current situation is "oligarchy", where an entrenched elite runs the country for its own benefit. This increasingly describes the US as well, but that's another story.

The Chinese "princelings" are effectively the new nobility of China, each guarding his own feudal turf.

[LomanBill]

Meet the New Boss, Same as the Old Ba’al
—The Woo?

[AndyJackson]

The entire article is a wonderful discourse on how economies can go wrong. The irony that we are looking at ourselves in a mirror, as other posters have pointed out, should not be lost on anyone.

[Cacique]

btt

[indthkr]

chicom business structure bump for later.........