Roger L. Simon, a convert to Conservatism, posts this interesting blog entry about China. He does not know what to make of reports that China's economy on the upsurge. He mentions that China has no capital gains tax and speculates if that would have something to do with the recovery.
China also doesn't have personal income tax forms to submit, socialized medicine, anti-smoking fascism, and easier ways to get around the regulations that are in place.
I heard a story of a laid off worker doing just fine because he had savings.
Workers readily accept cuts in salary to save their jobs.
If this China recovery is real remains to be seen but, if it is, it could only be attributed to a lack of over-government. unlike that that will plague America for the next few years.
The Chinese can't be as dumb as President Oprah has been about economic policy. We can only hope.
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