Communist controlled capitalism
By ERNEST F. HOLLINGS, former U. S. senator
2010 -- One of the strongest features of democracy is capitalism's open
or free market. We have always felt that capitalism worked best under
democracy and couldn't work under communism.
communist controlled capitalism is putting the United States' democracy
to the test. Fred Hiott questions in The Washington Post (10/4/10):
"Will Obama's foreign policy follow his new democracy rhetoric?"
And Hiott editorializes: "Obama soon will embark on a trip through
Asia resigned in part to put meat on the bones of his new (democracy)
rhetoric." As the President's ignoring of the trade war has him in
trouble at home, the President's ignoring of the trade war jeopardizes
his selling of democracy abroad. China is becoming a superpower in the
trade war while the United States is a basket case. China is researching,
developing, and producing everything from nuclear, high tech, and vehicles
with two trillion dollars in foreign reserves from its trade surpluses
as the U. S. suffers six trillion dollars in trade deficits in the last
ten years. As the United States' industry and workers idle in unemployment,
its economy is on life support from China. It's difficult to see why any
emerging nation would opt for democracy.
on Foreign Relations and the Pentagon wait for China's economic collapse
and chaos and worry only of China as a military threat. China's leaders
are students of government as well as politicians. The leaders are intent
on keeping the Middle Kingdom together as it develops its economy. Its
military will be necessary to keep law and order, but it has already learned
to use its economic power to take over the world.
Senator Hollings of South Carolina served 38 years in the United States Senate, and for many years was Chairman of the Commerce, Space, Science & Transportation Committee. He is the author of the recently published book, Making Government Work (University of South Carolina Press, 2008).
© 2010, Ernest F. Hollings. All rights reserved. Contact us for republication permission.
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