Those in Glass Houses Shouldn't Throw Insults About State Capitalism
Which came first, the pot or the kettle?
This is from the BBC:
China's economy 'will grow' despite 'grim' 2012 outlook
China's economic policymakers have pledged to guarantee growth in 2012, despite an "extremely grim" global outlook for the year ahead.
After their annual closed-door economic meeting in Beijing, the country's leaders declared that monetary policy would remain "prudent".
They said the currency, the yuan, would remain "basically stable".
The meeting avoided big policy changes before China's top two leaders retire next year, analysts said.
Now I realize the BBC is being funny by quoting Chinese sources, who can say whatever they want (sound familiar, Americans?), but were all those quotations really necessary?
It would have been hypocritical for the U.S media to poke fun at the Chinese for their "basically stable" monetary stance but that doesn't stop the United States at large from calling out China for their very same dysfunction:
Despite some progress during 2011 in its consultations with China, the U.S. remains concerned over state intervention and the large role played by state-owned enterprises in China’s economy, intellectual property rights violations and other policies that disadvantage foreign firms.
“In recent years, China seems to be embracing state capitalism more strongly, rather than continuing to move toward the economic reform goals that originally drove its pursuit of WTO membership,” the trade representative’s office said in an annual report to Congress on China’s compliance to its WTO commitments, released late Monday.
Did I miss the quotation marks in that one?
The irony is killing me.