China's wealthy bypass the banks

[Tyler Durden]

>That is the revisionist version - that china was a free and
>capitalist society, therefore freedom is not enough to ensure
>modernity and industrialization - a proposition as ludicrous as
>similar accounts of more recently existent despotic states.

I can't tell if you're arguing me with or just yourself. You seem to equate 
disagreement with your assessment with a viewpoint that is completely 
opposite.

To say that China was "despotic" would, on average, be accurate. But then 
again, one must remember that a form of despotism where the despots are 
months away is very different from modern forms of despotism.

Today's China is in some ways similar to China during many dynasties. The 
emperor sleeps some insect with a big, fat stinger awakens him and then he 
gets mad, swats it, and then goes back to sleep. When the locals are fairly 
certain the emperor is sleeping soundly, they go about their business.

Call it despotism if you want, but really it's essentially Chinese.

-TD