China's economy is slowing down, as all economies must when in a given position in the 'business cycle'. Changchun, China is labelled 'the Detroit of China' because its auto plants are going down like pins in a bowling alley. The government has set aside $20 billion to assist unemployed workers in the industrial region but doubts are held that the 150,000 state run companies employing 30 million workers can continue subsidies or let market forces take over. As socialists know from the former USSR, market forces will have to be let loose. China is subject to world-wide economic forces and will be forced to take the capitalist route.
Another reason why socialism and capitalism cannot co-exist.
John Ayers.
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