Neoliberalism Has Met Its Match in China — Ellen Brown

Summary:
Spross quoted former bank CEO Richard Vague, chair of The Governor’s Woods Foundation, who explained, “China has committed itself to a high level of growth. And growth, very simply, is contingent on financing.” Beijing will “come in and fix the profitability, fix the capital, fix the bad debt, of the state-owned banks … by any number of means that you and I would not see happen in the United States.”... This did happen to a degree in the US, when the Fed stepped up to save the financial system, and the   TBTF institutions, and Congress authorized a nationalization of GM. That's a feature of neoliberalism, too. TruthdigNeoliberalism Has Met Its Match in ChinaEllen Brown

Topics:
Mike Norman considers the following as important: China, Neoliberalism

This could be interesting, too:

tom writes Causes of the Ukraine War & the case for Georgian non-alignment — An interview I gave in Tbilisi, Georgia

Matias Vernengo writes Podcast with about the never ending crisis in Argentina

Matias Vernengo writes Trumponomics vs. Bidenomics: The good, the bad and the stupid

Matias Vernengo writes Debt cycles and the long term crisis of neoliberalism