An article in the Wall Street Journal declares China is the winner.  Amazing, that the Wall Street Journal could have been writing this blog.

The U.S. financial system is seen as having failed.

China has little debt.  It’s currency will likely be the reserve currency at some point in the future.  During this financial crisis, the worse that will happen to China is that it will grow slower — no real recession there.

China also considers their system “managed mercantilism” which is just another way of saying socialistic capitalism.   That is, the basic belief that capitalism does not work if left to its inherent greed and corruption.  Instead, basic living is provided by the state and some free enterprise still exist.   Marx wouldn’t be happy because China is no “Paris Commune”; yet, it may be a good start.

Also look to China for expanding its global influence because it will have money to spend to help other countries.  Money, by the way, that use to belong to the U.S. until the greed and corruption destroyed it.

America is doomed.