Free Republic

Chinese President Xi Jinping opened a critical Communist Party Congress on Wednesday with a pledge to build a “modern socialist country” that will never copy the political systems of others and will remain open to the world. […] “Through a long period of hard work, socialism with Chinese characteristics has entered a new era. This is a new historical direction in our country’s development,” Xi said in a speech carried live across the nation on state television. China will relax market access for foreign investment and expand access to its services sector, as well as deepen market-oriented reform of its...

Opinion: Why China probably has a lot more gold than it admits By David Marsh Published: July 20, 2015 11:48 a.m. ET Transparency on holdings linked to review by the IMF on joining the special drawing right China has lifted a veil over its gold holdings and confirmed its interest in providing more up-to-date reserves data by announcing a near 60% jump in its official bullion assets since 2009. /snip The PBoC said its gold reserves were 1,658 tons against 1,054 tons in April 2009, which was the last time China declared its gold holdings. In 2009 the reserves total...

In an interview with Ezra Klein of Vox, President Obama said traditional market forces that used to redistribute income are failing and the time for government to do it instead has arrived. The interview, which ran today, was conducted January 23. Touting what he referred to as inclusive capitalism, Obama made the case for what actually sounds a lot like socialism. So part of our job is, what can government do directly through tax policy? What we’ve proposed, for example, in terms of capital gains — that would make a big difference in our capacity to give a tax break...

On the day we arrived in Washington, April 12, 1997, we tuned in to C-Span just in time to see the House of Representatives pass H.400 on a voice vote. Not one member of the House of Representatives demanded a roll call vote on a bill that would severely emasculate a core function of the federal government. When we were finally able to obtain a copy of S.507, we read it very carefully and we were horrified. Never in all of our years as lobbyists had we ever read a worse piece of legislation. If we had ever wondered what...

What is American Corporatism? By Robert Locke FrontPageMagazine.com | September 13, 2002 We are probably heading into some economic heavy weather which will spur needed debate on what's right and wrong with our economy. This will require our being clear about what kind of economy we really have. I have mentioned before that we increasingly live not in a capitalist society but in a corporatist one, and I would like to flesh out this notion. What is corporatism? In a (somewhat inaccurate) phrase, socialism for the bourgeois. It has the outward form of capitalism in that it preserves private ownership...