China slides into grip of ultra left.

The Chinese government has been using its massive stimulus of the economy in part to reverse years of privatization and allow large state-owned enterprises to grab back assets in major industries.

For a few awful years there I was terrified that China would inundate us economically with its robust form of capitalism. Imagine my relief when I read that it’s adopting key elements of the Obama Administration economic plan to nationalize key industries and hamstring the economy.

"China using stimulus to buy private rivals. Drive reversing privatization." By Kit Gillet, Washington Times, 10/29/09.