Sunday, November 10, 2013

China prepares to liberalise finance

Link

The freeing up of China’s economy over the past 35 years has been methodical. First it was agriculture. Then it was industry. Now, the next phase of liberalisation planned by the ruling cadre of the Communist party includes finance.

Right

They are going through the waves in perfect order.

The Chinese "Communist" Party is also planning to increase domestic spending, and want China become more service-oriented economy, meaning less blue-collar, non-skilled workers, more white-collar, knowledge professionals. They dont want to be world's sweatshop for cheap production which will, in turn, force companies who outsourced production to China to focus more on automation (as well as Chinese themselves). More automation, more 3rd Wave. More 3rd Wave, less 2nd Wave.

Things are about to get much, much worse for the old system IMO.

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