In case you missed it, China’s state capitalists are now saying that they are pushing to be manufacturing 40 million automobiles a year by 2020.
It will be interesting to see if capitalism makes it that far without the onset of the mother of all depressions. Personally, I doubt it.
But this news is extremely important, nonetheless. Not only does it support the thesis that few things can boost corporate capitalism like cars, but it is also an enormous indictment of China’s worst-of-both-worlds overclass. If their efforts come to fruition, they will spell catastrophe for the Chinese people.