Here is an interesting bit of financial trivia for you folks. The world’s largest and most profitable bank right now is Chinese! There should be no remaining doubts as to the tectonic shift in the global economy. It seems that the mantle of global financial capital is moving east and a very large portion of that capital is flowing into China, a country whose official ideology is communism. However, in reality China is definitely not communist now! It is now a thoroughly capitalist country but with certain Chinese characteristics – call it Chinese Capitalism if you will. After Mao died everything changed. People don’t support the communist party like they used to. China started becoming capitalist with Deng Xiaoping’s economic reforms. Now people just want to get rich, and it’s starting to show. I foresee China’s economy growing to the point where it will seriously rival the economies of the United States and the European Union. Time will tell, but so far things are looking good for China.
Just my two cents.