The New York Times has the article Chastised by E.U., a Resentful Greece Embraces China’s Cash and Interests.
While Europe was busy squeezing Greece, the Chinese swooped in with bucket-loads of investments that have begun to pay off, not only economically but also by apparently giving China a political foothold in Greece, and by extension, in Europe.
The NYT failed to point out that China understands the economic principles that the west has forgotten. The way to boost a struggling economy is not through austerity, but through government backed investments to stimulate the economy. Are we now going to blame China for our stupidity?
We no longer have to ask whether a Progressive economic policy would get the economy going again. China proves the Progressive economics works all over the world. We can refuse to learn anything from the evidence, or we could just give in and try economic policy that works.
I know people are going to twist my words into an endorsement of Chinese politics, but I said no such thing. We used to understand and apply progressive economics in our Democracy, but since we have switched our government to an oligarchy, we cannot seem to get out of our own way on economics.
Maybe fear of China will put a human face back on our capitalism. The threat of communism from the USSR is what used to prevent our system from diving into its current depths of depravity.