Stirrings of unrest could portend turmoil as economies collapse


 

Your editor is rereading Alas Babylon, the 1959 novel about a nuclear strike and its impact on the small town of Fort Repose Florida. Let’s just say it makes for interesting and timely reading.

(From LMT Online)

A second or third wave of coronavirus infections could rattle even authoritarian states such as China, whose ruling Communist Party has maintained a tight grip on its citizens for the past three decades by delivering soaring prosperity in return for political loyalty.

The announcement by the Chinese authorities on Friday that the Chinese economy had shrunk by 6.8% in the first quarter of 2020, marking the country’s first recession since capitalist-style reforms unleashed explosive growth in the 1990s, was a reminder that the social contract could be at risk, said Yasheng Huang, a professor with the Sloan School of Management at the Massachusetts Institute of Technology.

Reprinted from: https://www.ac2news.com/2020/04/stirrings-of-unrest-could-portend-turmoil-as-economies-collapse/

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More from Against Crony Capitalism: