Shipping News

From the NYT of all places:

The cargo volume here is three times the level it was two years ago, before the captain, Fu Cheng Qiu, was put in charge by his employer, Cosco, a global shipping giant owned by the Chinese government.

In a 2010 deal that put 500 million euros ($647 million) into the coffers of Greece’s cash-starved government, Cosco leased half of the port of Piraeus and quickly converted a business that had languished as a Greek state-run enterprise into a hotbed of productivity.

So Chinese communists have a better grasp of capitalism than the Greek government. Fact is stranger the fiction.

Comments

[Adam Maas]

Note that the Greek Government is essentially a corrupt socialist government, verging on communist. The Chinese are functionally straight-out fascists practicing state-directed capitalism, despite their claims of being communist.

Unsurprising that hard-working capitalists produce more than lazy socialists, even if neither side admits that's what they are (at least from this context).

[copinacus]

First they came and took Mozart, Schubert and Beethoven. Now they are taking Hayek, Friedman and Rand.

But, hey, don't panic. we've still got rap, Krugman and Obama.