Any country pursuing economic liberalization could learn much from America’s successes. But these days, China might learn more from America’s failures. In the booming southern coastal region of Guangdong, energy price controls have forced truckers to wait in long lines for diesel fuel. The Chinese government forces oil refiners to sell their products at prices […]
David Donadio is a writer and editor at the Cato Institute in Washington, D.C.
The United States housing market has slumped, and the fallout is being felt as far away as China. The collapse of the market for subprime mortgages — the exceptionally risky mortgage investments for people with poor credit — has resonated across the American economy, leaving home-owners, lenders, financial institutions and rating agencies pointing fingers at […]
By serving as middlemen to ensure that sellers get paid and buyers get what they pay for, credit cards are an invaluable part of modern economies, and most Chinese would be happy to have one. But the process of obtaining a card is more onerous in China than in the United States, so a novel […]