By Lynette Zang, Chief Market Analyst
Today democracy faces many challenges but I believe the biggest challenge is technocracy.
Globalization has given rise to income inequality. Coupled with the crony capitalism, it’s no wonder populist movements are cropping up around the globe… but not in China.
Technocracy places control of government, society and industry by elite technical experts. Since the death of Mao Zedong in 1976, China has transitioned into an authoritarian technocratic capitalist system. While capitalism may seem out of place in a technocratic system, in fact it actually strengthens a communist state’s capacity to employ technology and other resources for repression.
The benefits of this system is not lost on the global elites. Is this why China was chosen to spearhead the money standard shift away from the US dollar and into the SDR?
Slides and Links:
China Financial Decentralization http://www.econ.hit-u.ac.jp/~kokyo/APPPsympo04/China.pdf
If a hacker tried to steal the key in transit, quantum mechanics theory says they’d instantly change it to a different set of numbers.
Human Rights China