I apologize for not posting the last few days–I was in Maine with my college buddies celebrating the 4th of July. We had a great time re-enacting the Age of Aquarius.
I missed out on much news apparently–I didn’t have internet access. I’m still obsessing about the LIBOR scandal. It bothers me a great deal that the American media has paid so little attention to what is a breathtaking example of greed gone wild. The American media pays a lot of lipservice to what it calls the “free” market. When evidence surfaces that one of the most important determinants of interest rates in the world is in fact a manifestation of very rich interests colluding to set a price independently of supply and demand, I am at a loss to explain the silence. But there is not a single person in the United States who was unaffected by this crime, mostly by paying higher interest rates than they otherwise would have had to.
The BBC has an interesting article on how liberal (Western) ideas infiltrate into China. The transmission of ideas is an age-old process, but it seems to have accelerated through all the mechanisms afforded by globalization. How the Chinese government can manage this process remains to be seen.
World Politics News 
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