資本主义: 老將与新兵 ∕ Matured Capitalists vs Capitalists Wannabes

Currently, two groups of capitalists are facing challenges in two parallel worlds.

In the US, the government has found out (since the Enron days), that the financial sector, driven by profit and their desire for freedom (i.e. minimum government regulations), has dug a hole so deep they cannot get out of. In the brink of systemic failure, these matured capitalists will receive, if approved by Congress, billion of dollars of taxpayers' rescue money to re-start business, albeit in a less reckless manner (we can only hope).

In China, the government has learnt (since the leaded toys, tainted toothpaste and other toxic stories), that even with a new regulatory regime in place (on paper at least), the Chinese dairy industry is not mature enough to self-police. In the wake of public condemnations, these capitalists wannabes instinctively deny and point fingers at others (see note 1 below). With mounting pressure, those that get caught will receive, if the government wants to contain public anger, severe punishments for their reckless behavior. No doubt, Chinese entrepreneurs under communist leadership will continue to propel the country's economy forward, albeit in a more responsible manner (we can only hope).

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Note 1:

According to the CBC Canadian Broadcast Corporation's Sept 19, 2008 article entitled "Poisoned milk scandal widens in China, top dairies implicated"

"..... On Friday, about 10 per cent of liquid milk samples taken from China's two largest dairy producers — Mengniu Dairy Group Co. and Yili Industrial Group Co. — were found to contain melamine, according to the General Administration of Quality.

..... Yao Tongshan, the chief financial officer of Mengniu, apologized for the crisis, but insisted only a small portion of the company's inventory was contaminated. He blamed small dairy farmers for providing the tainted milk. "Large-scale milk farms are very disciplined. They won't take the risk of doing something like that," he told reporters in Hong Kong.

..... Earlier this week, Mengniu chief executive officer Niu Gensheng vowed to create a clean dairy product market, saying "if this thing cannot be properly dealt with, I'll resign," according to the financial magazine Caijing. ....."

http://www.cbc.ca/consumer/story/2008/09/19/china-milk.html#articlecomments