China’s Economic Model Is Superior…if You Think U.S. Living Standards Should Drop by 80 Percent

Originally posted on International Liberty:

I’m glad that China has taken some steps away from communism. According to Economic Freedom of the World, China was one of 10-worst nations for economic liberty back in 1980 and they’ve since climbed to 92nd place out of 141 nations.

I’ve even offered a small bit of praise for China’s shift to a more business-friendly environment, and I was greatly amused when the head of China’s sovereign wealth fund mocked the Europeans for destructive welfare state policies.

That being said, 92nd place is still a very anemic rank, far below the first- and second-place jurisdictions, Hong Kong and Singapore.

So I was flabbergasted when Andy Stern, a former union boss and long-time Obama ally, wrote a column for today’s Wall Street Journal praising the efficiency and vitality of China’s planned economy.

You probably think I’m pulling your leg and/or deliberately misrepresenting what he wrote, but his article…

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