BAO Bloggers

Karen Christensen

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Karen Christensen

Paul Buell

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Paul Buell

Diana Chou

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Diana Chou

Philippe Foret

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Philippe Foret

Judy Polumbaum

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Judy Polumbaum

Unryu Suganuma

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Unryu Suganuma

Haiwang Yuan

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Haiwang Yuan

Shiao-ling Yu

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Shiao-ling Yu

Yu Zhou

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Yu Zhou

American Style Socialism & Chinese Style Capitalism

While the U.S. spent $700 billion to bailout gamblers in Wall Street, the Chinese government spent much time “bailing out” its reputation in global business as the result of the recent tainted milk scandal. Two different social systems created two different issues for the global community. American financial gamblers dealing in sub-prime loans destroyed global business confidence. At the same time, the Chinese milk scandal fundamentally destroyed global consumer confidence. However, both the American financial crisis and the Chinese tainted milk crisis have one common mistake. That is, both governments failed to supervise the systems strictly and effectively. Accountability for business practices whether under capitalism in the U.S. or socialism in China, should be a priority for all.

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