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Socialism is the Future “President Putin:Russia should have learned experience from China”|John Ross

Summary:
Socialism works for China.John Ross says that 30 years ago Russia had the same sized economy as China, and he tried to tell the Russians back then to copy the Chinese model, but the Russians thought that they could be as rich as the Americans within a year if they listened to the US neoliberal economists, and some even thought they could turn the economy around within weeks. Now the majority of Russians regret what happened, including Putin. [embedded content]

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Socialism works for China.

John Ross says that 30 years ago Russia had the same sized economy as China, and he tried to tell the Russians back then to copy the Chinese model, but the Russians thought that they could be as rich as the Americans within a year if they listened to the US neoliberal economists, and some even thought they could turn the economy around within weeks. Now the majority of Russians regret what happened, including Putin.


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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