[general_re]

It's not about spending, it's about how far you can go by greasing palms, among other things. For the most part, the western world is a pretty transparent place - we get up in arms about that food for oil business precisely because it's the exception, and not the rule. But in that respect, China is like a giant Zimbabwe or Nigeria. Ideas, drive, initiative, hard work - none of that stuff matters nearly as much as who you know and how much baksheesh you can line their pockets with. Contracts over there aren't worth the paper they're printed on, because you can't get them enforced. And so you get this two-tiered society, where you either have everything, because you're on the inside, or you're on the outside, operating solely at the pleasure of those on the inside. And you can't have western style wealth in that kind of society - you get Zimbabwes and Nigerias that way

[shaggy eel]

,,, and you think China will keep going ahead at the pace it is without adopting western codes? They've recently started serious discussions leading to recognising property rights. If you want to see capitalism in action, you're more likely to see it in Shaghai than a number of places in the US. I'm not pushing the boat for China in saying that.