As others turn towards Chinese-style state capitalism to save the global economy, ‘we’re all socialists now’

The phrase “we’re all socialists now” is being heard often, of late, as the state rides to the rescue of everything from overloaded health care systems to distressed financial systems. Yet the implications of growing state involvement in business and finance are perhaps not fully appreciated. Chinese-style state capitalism could end up scoring more points as a model for sustainability than market systems that are prone to frequent crises (for which blame cannot always be laid at the door of…

Read the original article at South China Morning Post