For a hundred years if not more we’ve seen what works and what doesn’t in trying to build a society, in trying to see growth in people and in standards or living. For some insane reason we (politicians and some head in the clouds individuals) keep trying to see to it that government is the one to plan economies, twist and turn the knobs and dials, see if maybe this time it will be finally possible to redistribute wealth and make everything “fair”.
So what does this have to do with China and a smart woman by the name of Zhang Xin? First of all her story in incredible. She grew up in the poor section of Hong Kong, worked in a garment factory at the age of 14 and managed to scrap together enough money to go to university and today is a billionaire real estate developer as CEO of SOHO China.
The knee jerk reaction from the redistributionists out there would try to point at her and say “see – centrally planned economies work and she’s the proof”, but let her tell her own story and her own view of how things are and what is the only way forward and then take some time to really reflect on her point of view.
When asked “what do you think of state run capitalism? Her responds was “I think that is the single biggest challenge China faces right now…bear in mind, how do we become economically affluent to todays level? It’s through the market economy”
Here is a Chinese self-made billionaire who came from nothing to become one of the largest real estate developers in the world who clearly sees the way economics work and which path is most likely to best serve millions and millions of people in have a shot at improving their lives.
American politicians would do well to heed her advice on this subject and let the free market flourish in the USA without their constant tinkering with the markets, employment, stimuli and whatever “actions” they try to take to stablize markets. The markets will always stabilize themselves thank you if politicians would simply go fishing most of the time.
Here’s the 6 minute interview.