Green Social Thought

Produce less. Distribute it fairly. Create a greener world for all.

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Tag: China

  • Neoliberalism Has Met Its Match in China

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    by

    rsburke
    in

    When the Federal Reserve cut interest rates on July 31stfor the first time in more than a decade, commentators were asking why. According to official data, the economy was rebounding, unemployment was below 4%, and GDP growth was above 3%. If anything, by the Fed’s own reasoning, it should have been raising rates.  The explanationof market…

  • How China’s Mobile Ecosystems Are Making Banks Obsolete

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    by

    rsburke
    in

    Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems.   The US credit card system siphons off excessive amounts of money from merchants, who must raise their prices to cover this charge. In a typical $100 credit card purchase, only $97.25 goes to the seller. The…