Sunday, November 1, 2009

Washington Post,Nov.1, 2009 page A28 Editorial

In the ideal world of economics, firms that take excessive risks go bankrupt, their competitors pick up the pieces and the economy marches on. Some call it creative destruction In the real world, certain financial institutions are so big and so interconnected that their collapse - no matter how richly deserved - threatens plain old destructive destruction. Government steps in, with taxpayer money to prevent that.

China is reforming its economy and the role of the government is noted under the market system.

Francis Shieh a.k.a. Xie Shihao, an observer of comparative economics in USA and in China.

Sunday, Nov. 1, 2009 at 3.20 p.m.

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