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Pendulum swing from globalization to protectionism? : Comments
By Vince Hooper, published 29/8/2017In effect, QE is Monetary Socialism and has encouraged greater moral hazard since 2010.
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Nationalist China and Communist China are not the same thing. The former refers to the Republic Of China, which used to control mainland China before the communists overthrew it and the nationalists retreated to Taiwan. Though the ROC is now a democracy, it was certainly totalitarian under Chiang Kai-shek's rule.
That Trotsky was a failure is neither here nor there - after all, his apparently successful contemporaries also ultimately failed. Communists think they can succeed where others have failed, so Trotsky's failure is hardly likely to daunt them.
"Similarly, communism and capitalism are indeed incompatible packages. One can't pick and choose from each package."
Sweden did.
Indeed much of western Europe did!
"That's why the US and its allies won the Cold War: capitalism was more efficient and effective than Soviet communism."
I doubt it. Not the bit about efficiency ( I concur with that) but the Soviet Union really lost the Cold War when its economy collapsed as a result of keeping the Rouble above market value for too long.
(TBC tomorrow - I'm too tired to keep going tonight)