Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Oldeconomybuyer
In the aftermath of the Cold War, the West has won. That is clear.

What isn't clear, is that the free market system, that took the West hundreds of years to develop, through legislation and regulatory practices, market theory, etc. was not developed by just "leaving it alone" as Adam Smith would say.

And China, brings to Africa, a government hand to a relatively chaotic continent. Free markets do work better, but in its timing.

That is why Putin is still suspicious of the West. The old Soviet Union bought into the free markets of the West, liberalized their economy, and now has one of the worst wealth distribution in Europe, if not thee worst. And infrastructure development hasn't improved as much as one would have expected.

That's because, while the West preached free market reform, leave it alone philosophy, they left out the part, that even in the Western world and the US, the government played a large role in developing the economy.

The West got many developing countries to be more capitalistic, free for all, than the West themselves. And before the country could develop all the regulatory practices.

The Prime Minister is right to praise the Chinese. Without the rise in commodity prices and China's government attempt to extract resources, Africa wouldn't be growing as quick as they are. But the flip side is, China was able to structure her economy, to compete with the West, economically, thereby building an economy via intergration with the West. In other words, the West may have done a poor job in Africa over the last 30 years and China has been more successful, but without China integrating into the West, China would not have the wealth to make African resources valuable to them.

China will be good for the developing world. She will single handedly DOUBLE the number of people living in a developed country in the next 25 years or so. Thereby increasing the value of commodities and manufacturing labor in the developing world.

China's rise brings a sort of shagrin to many in the developed world. But her rise it necessary to pull along the rest of the planet. Or, rather, will double the economic strength of the developed world, which thereby, enriches the developing world.

34 posted on 04/27/2012 11:29:22 AM PDT by ponder life
[ Post Reply | Private Reply | To 1 | View Replies ]


To: ponder life
That is why Putin is still suspicious of the West. The old Soviet Union bought into the free markets of the West, liberalized their economy, and now has one of the worst wealth distribution in Europe, if not thee worst. And infrastructure development hasn't improved as much as one would have expected.

That's because one vital component is something that makes sure that somebody's work isn't expropriated by gangsters. Russia is not a free-market system, it's an oligarchic gangster economy to a large extent.

39 posted on 04/27/2012 2:16:05 PM PDT by PapaBear3625 (In a time of universal deceit, telling the truth is a revolutionary act. - George Orwell)
[ Post Reply | Private Reply | To 34 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson