Ep. 1017: Two Wise Voices with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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China Is More Capitalistic Than the United States
The word communism is really difficult for them to wrap their arms around, because it goes back to cold war us. If you look at the chinese economic system, it's more capitalistic than the united states. To a large extent, china is an early stage of capitalism. It is the invisible hand of adam smith which really guided china into economic prosperity and growth. A thing has to do with the fact that china is a continent, whereas japin is more of an island historically.
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