Word: capitalisme
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Shenzhen is the heart of a thriving new 127-sq.-mi. Special Economic Zone where Western capitalists can do business. In addition to Shenzhen, there are two other free-enterprise zones on the southeastern coast, Shantou and Huli. Of all the economic reforms started by China in the post-Mao...
A case of crony capitalism
Critics charge that this is leading the Philippine economy into a type of state capitalism. But Gerardo Sicat, the former Economic Planning Minister, insists that the money is being doled out to corporations only after they have met stringent conditions, such as getting rid of unprofitable ventures.
Officials claim that the state will sell its interests when stability returns, but critics say that this is nothing less than de facto nationalization. One thing has not changed in Philippine business: Marcos' pals are still running the companies. Crony capitalism is thus turning into crony socialism.
What he is doing, of course, is playing cold warrior. He cares little whether the men and women in Poland have enough meat to eat at night, whether or not they breathe dangerous chemicals on the job, whether or not they live with some measure of pride. Reagan does hope...