The problem with Chinese capitalism is that it doesn't require Democracy. It is becoming the manufacturing capital of the world with a capitalist economy and an authoritarian government. I guess one question then is does Democracy need capitalism to survive? I believe the answer would be yes since you'd be hard pressed to find one that doesn't practice capitalism. That said, it would appear that Mr Fukuyama thinks the US's form of capitalism doesn't necessarily provide enough "protection" for individuals to take risks with their opinions.
So much for the free market....hmmmmm?
I would argue that Chinese capitalism is a great thing...for the winners. One problem for the loosers though is that profitable assets too easily and too often end up back in the governments hands, turning the risk takers-into eventual loosers. They'll still make money, before they loose their money making machines. Once the economy started going into the toilet in 2008, masssive amounts of government investiment and lending put these troubled industries squarely into the govenments coffers. Sound familiar? I wonder who got the ideal from whom?
Then we have the flat-out siezures of successful businesses....
Read an example of this
here:
Grabs such as this or "protections" by the government have been made accross the board from internet based companies, mines, and airlines. Small mom and pop joints seem to be safe for now but, if it starts getting ugly again, we'll see....jd