Fifteen years ago this month, amidst the unholy darkness some daylight had emerged; at least according to the official version. The fact it had shown through with Chinese characteristics was actually an invited development. Even President Bush, the latter, would come close enough to saying they were all socialists now.
Long before other governments could get their Keynesians together, China uncorked the fiscal equivalent of a nuclear bomb. Early in November 2008, while the “financial” crisis continued to defy everything the Fed and feds threw at it, Hu Jintao’s technocrats knew just what to do and how to do it.
After all, every single one of them had trained in all the right Western schools.
O
Read Full Article »