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: Asia Business IntelligenceAuto Bailout, Financial Bailout, What Next?
Massive non-performing loans that force major financial institutions into insolvency. Significant state investment in manufacturing industries. National governmental leadership in product planning. Taxpayers "profiting" from equity investments in quasi-private enterprises.
What nation do you think I'm referring to? Could be China, but no.
The United States has apparently embarked upon the creation of a quasi-capitalist economy with socialist characteristics:
The Democratic lawmakers said federal aid should come with "strong conditions," such as requirements that car makers build more fuel-efficient vehicles, and equity stakes for the government so taxpayers could profit if the companies recover.
A re-run of the last 25 years of a Chinese state-led market economy, Americanized?
Full post as published by Asia Business Intelligence on November 10, 2008 (boomark / email).
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