It will not be easy, but China's
future «
economic miracle» will
lie in its ability to boost productivity and its use of big data and Internet technology to stimulate domestic consumption and generate exponential development opportunities,» wrote Ma.
We, on the other hand, view it with hope: because more than anything, the events of the past few days show that the truth is getting out — the truth that capital markets simply can not exist under the authoritarian rule of central planners, the truth that the stock market is a casino in which the best one can hope for a quick flip, and finally the truth that our entire socio -
economic regime, whose existence has been predicated by borrowing from the uncreated wealth of the
future, and where accumulated debt could be wiped out at the flip of a switch if things go wrong in the process obliterating the welfare of billions (of less than 1 % ers), is one big
lie.