Policy: Economy

China's Premier Li Keqiang promises more economic freedom, while America's Obama plans more regulation

By |
Beltway Confidential,Opinion,Mark Tapscott,Morning Examiner,Barack Obama,China,Economy,Freedom

How does one know when the world has been turned completely upside down? How about when USA Today reports a major world leader (not the president of the United States) saying this:

"'We need to make sure the market plays a decisive role,' said X in a nationally televised speech to --- legislature. He promised to 'break mental shackles and vested interests' — a reference to possible resistance from state companies that might lose subsidies and monopolies."

Any idea who USA Today is quoting? Believe it or not, that quote is from Chinese Premier Li Keqiang, describing China's new national economic strategy.

Capitalism in communist China

China's regime remains officially a communist government, but the country's leaders long ago recognized that economic freedom is essential to economic growth.

According to the same USA Today report, Li's remarks included details of a process of "opening state-dominated industries to private investment and making banks more market-oriented."

In other words, China's leaders have recognized, at least in some key economic sectors, that private enterprise is more efficient and productive than state enterprise.

Is Obama listening?

Li's remarks coincide with President Obama's month-late release of his 2015 federal budget proposal. It seeks $3.9 trillion worth of European-style spending, taxing and regulation.

Taxes go up, spending by government explodes, debt grows ever higher and the bureaucrats issue thousands of new regulations to strait-jacket the same private enterprise system that communist China is liberating.

Read that last sentence again, then ask yourself this: How did America ever get to the point that communist China's premier has more faith in economic freedom than the president of the United States?

On today's washingtonexaminer.com

Editorial: Obama's 2015 budget proposal completes the Europeanization of America.

Examiner Exclusive/Susan Crabtree: Emails raise new questions about White House knowledge of Sebelius fundraising for Obamacare enrollees.

Watchdog/Luke Rosiak: Disgraced Treasury investigator led life of lies, government dependence.

Columnist/Gene Healy: Whatever its faults, the Tea Party identified the right target.

Columnist/Noemie Emery: "Somewhat conservative" voters are the driving force within the GOP.

Columnist/Timothy P. Carney: "Carried interest" and the limits of populism.

Beltway Confidential/Ashe Schow: Rep. Alan Grayson accused of shoving estranged wife in fight.

Beltway Confidential/Chuck Hoskinson: White House claims only Obama can change Obamacare.

Beltway Confidential/Philip Klein: Here's how Obama's 2015 budget hikes taxes and fees by at least $1.2 trillion.

Legal Newsline/John O'Brien: Legal Newsline seeks evidence in landmark Garlock decision.

In other news

The Washington Post: Obama seeks to tame debt by raising taxes on the rich in $3.9 trillion budget.

The New York Times: No easy way out of Ukrainian crisis.

CBS News: New study says meat, dairy may be as bad for your health as smoking.

New York Daily News: Palin says Obama's "Mom jeans" no match for Putin bear.

USA Today: China pledges to sustain 7.5 percent annual growth rate.

ABC News: Why everyone in Congress should be freaking out (or not).

Righty Playbook

The American Conservative: Putin's side of history.

National Review Online: Facebook's push to ban gun fans.

The Weekly Standard: Gov. Rick Perry polishes his legacy.

Bonus must-read

The Federalist: The long walk back to freedom.

Lefty Playbook

Mother Jones: The State Department is actively trolling for terrorists on Twitter.

UTNE Reader: Why fried worms and other bugs are the future of sustainable food.

The American Prospect: Primary day means baby steps for Texas Democrats.

Bonus must-read

The New Republic: AIPAC and Israel are at the crossroads.

Blog Right

Wizbang: Union thug posts names of nonunion workers, denies intimidation.

Patterico's Pontifications: Accepted wisdom on accepting U.S. intelligence.

Gateway Pundit: Paul Ryan on those moments when he says "I can't believe we lost to those guys."

Blog Left

Talking Points Memo: Why Kentucky's attorney general refuses to defend anti-gay law.

Kevin Drum: It's time for Republicans to start hating EITC again.

Wonkette: Sen. Lindsey Graham takes this Benghazi thing a bit too far.

View article comments Leave a comment