Saturday, 26 April 2025

Enough said... A tale of Two Countries. Of Mercantilism vs the Market

Zhi Hu = Chinese Quora

Baidu = Chinese Google

You Ku = Chinese YouTube

WeChat = Chinese WhatsApp

Alibaba = Chinese Amazon

Ant = Chinese PayPal

WeiBo = Chinese X (Twitter)

Sina WeiBo = Chinese Facebook 

XiaoHongShu = Chinese Instagram

Bai Ke = Chinese Wikipedia 

Douyin = Chinese Blogger

Tik Tok = Chinese Tik Tok  (except in China Tik Tok is not allowed)

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ALL the above in the Left column are Chinese knock-offs of the ones in the Right hand column. 

IOW: Copy cats 🐱

None of the ones in the Right hand column are allowed in China. 

IOW: No American technology is allowed in China. 

All of the ones in the Left hand column are allowed in the United States. 

IOW: All Chinese technology is allowed in America

Including the Chinese-owned App Tik Tok, which is openly propagandising in America about how bad America is. 

This is "fairness", Mercantilist-style. What Trump is after is Reciprocity. 

On a somewhat more elevated and scholarly note, but also on the same issue of mercantilism, US Treasury Secretary Scott Bessent on China, Bretton Woods, the World Bank and the IMF. Here. He's tough. But on an elevated level. 

It is "absurd", says Scott Bessent, for China, the world's second-largest economy, to be treated as a "Developing Economy". It's that label that gave it the excuses to do the stuff above. To shut out technologies to protect its domestic copy-cats, to be export-driven at the expense of countries around the world. He's right on that. China should long ago been taken off the list of Developing Economies. 

And must be now.