[FoRK] Investing in China?
James Tauber <
jtauber at jtauber.com
> on >
Wed Sep 13 10:02:31 PDT 2006
On 14/09/2006, at 12:26 AM, Bill Stoddard wrote:
> Changing the topic slightly... in some of the investor circles I
> frequent, I've expressed the opinion that China is not a good place
> to 'invest' (as opposed to 'speculate') because their hybrid pseudo
> capitalist yet centralized system of government is doomed to fail
> for exactly the reasons outlined above. It may take a while, but
> eventually their government will fail spectacularly because it
> lacks the robustness of a true democracy. On the other hand,
> perhaps my base assumption that Democracy and capitalism are hand-
> in-hand compliments is seriously flawed. What do FoRK'ers think?
I think you can have a fair subset of the socialist-capitalist
spectrum within a democratic philosophy. Hence the divide between
liberal democratic and social democratic perspectives.
What I'm not sure about, however, is just how capitalistic one can
truly be with centralization and state control. But that might depend
on what your definition of capitalism is. Mercantilism, corporatism,
etc don't fit with my view of capitalism but, for some, they do.
For me, the big test is how free entrepreneurs are. Not "how easy is
it to be an entrepreneur in a field the government is putting money
into at the moment", but how easy is it for someone who believes
there is a desire for some good or service in the market to try out
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