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February 27, 2007 [LINK / comment]
Stock plunge: China's fault?
Wall Street laid a pretty big egg today (though not as big as in 1987 or 1929), losing 416 points; see Washington Post. Apparently the sell-off was triggered by a financial panic in China. James Waterton had a pessismistic assessment of China's economic prospects about a year ago, and his fears may be coming to pass. Hat tip to Instapundit. I've had a very hard time trying to explain to students that China has a burgeoning capitalist economy that is, nevertheless, subject to a Communist dictatorship. It is a fatal contradiction, and we may pay the price one of these days. Or perhaps the Chinese leaders will see the light as Gorbachev did, and there will be miraculous transition toward a more open political system as happened in the old Soviet Bloc after 1989.
Posted (or last updated or commented upon): 27 Feb 2007, 11: 35 PM
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January 4, 2007 ~ 110th Congress: open for business
January 24, 2007 ~ The State of the Union, 2007
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April 19, 2007 ~ Senator Hanger comes to Staunton
April 30, 2007 ~
Sen. Hanger's campaign kick-off
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Republicans In Name Only? You be the judge!
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How sweet: Reason prevails
June 24, 2007 ~
SWAC bloggers air dirty laundry
August 13, 2007 ~ Hasta la vista, Karl Rove
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Fading dreams of democracy
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Nats sweep World Champion Cards!
September 23, 2007 ~ Au revoir, RFK Stadium
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Augusta County Campaign 2007
October 29, 2007 ~ Red Sox sweep Rockies; Dynasty?
November 7, 2007 ~ Democrats win Virginia Senate
December 14, 2007 ~ The Mitchell Report is released
December 29, 2007 ~
The death of Benazir Bhutto
December 31, 2007 ~ Baseball 2007: Year in Review
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