“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."
Tuesday, February 27, 2007
China Market Crash. What does it mean?
Probably not much. It looks to be a time to pick up a favorite stock or two on a buying opportunity.
To put China in perspective, the Chinese stock market capitalization was about US$800 billion. For comparison The United States has a total stock market capitalization of $20 Trillion. The US market cap grows on average 8% a year. That implies $130 Trillion by 2030.