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Tuesday, December 9, 2008

China vs. US System

In China, the government is touting the fact since they are more centralized in their control, for example all invoices need to be printed by the government with a unique number on it), that they are doing a better job than the decentralized US government. Evidence of this per China, is now with the Auto Bailout, the US is acting more like China. In fact, China is helping their major Auto Company Cherry with $1.45 Billion in loans for exporting cars.

Great Quote:
“We’re at this moment in history, in which the Chinese are touting that their system is better than ours” with their mix of capitalism and state control, said Mr. Garten, who has long experience in Asia. “And our response, it looks like, is to begin replicating what they’ve been doing.”

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