|
This is interesting. And odd.
China is adopting antitrust laws. The U.S. is gutting its antitrust laws.
The
law marks another step toward a market economy and away from a
centrally planned economy in which a series of giant state-owned
enterprises held vast and unchallenged monopolies.
China is
moving away from central planning. American agriculture is moving
towards central planning by the bureaucrats at Cargill, Tyson, and
Smithfield.
The law’s most
controversial provision, added this summer, calls for the government to
conduct more formal reviews of foreign purchases of Chinese companies
based on their potential to harm national security, including economic
security.
China wants to review and block foreign purchases for national
security reasons. The U.S. is endangering national security by selling off or outsourcing its
major economic sectors relating to high technology (Seagate), defense, food
production, investment (Blackstone) and basic manufacturing.
China has maintained most
tariffs and export subsidies while appearing to cut them, merely by
changing their names to value added tax charges on imports, and value
added tax rebates on exports. The U.S. unilaterally cuts tariffs
even as virtually all its trading partners do the same switch-a-roo as the Chinese.
China has a fast growing economy, a huge credit surplus, and a huge trade surplus. The United States does not.
 |
