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‘Seven sins’ emerge from flawed Western political systems: Global Times editorial

Summary:
The Chinese view of the Western way. These can be regarded as the “seven sins” of the Western political systems in real life. They must reform and change their systems from being capital-centered to people-centered.Capitalism favors capital including land, that is, ownership, as a single factor, and socialism favors labor (workers as people rather than as a factor). Global Times (Chinese state-sponsored media)‘Seven sins’ emerge from flawed Western political systems: Global Times editorial

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The Chinese view of the Western way. 

These can be regarded as the “seven sins” of the Western political systems in real life. They must reform and change their systems from being capital-centered to people-centered.

Capitalism favors capital including land, that is, ownership, as a single factor, and socialism favors labor (workers as people rather than as a factor). 

Global Times (Chinese state-sponsored media)
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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