Monday, December 28, 2015

China is moving slowly towards a free market

China calls itself communist, Peter, but I will tell you they are among the best capitalists in the world. I know people who will tell you they are the best capitalists in the world. Planned economy? Yes to some extent but look, California is more communist than China, Massachusetts is more planned, and America is more centrally directed than China at the moment. Their central government has a lot of power, but the provincial have a lot of power too, and the capitalists have a lot of power. I don’t worry that China is too centrally planned; it is going the other way and becoming less and less centrally planned. Whereas America and some Western countries are becoming more and more centrally planned.

Jim Rogers

Warren Buffett

Nouriel Roubini