Xinhua magazine China Comment published an article calling the end of American style of free capitalism. The article says that U.S. government’s massive involvement in the market signals the end of the free capitalism of America. The author argues that the sudden collapse of the free capitalism is the result of the shortcomings of free capitalism. The article listed several deficiencies of the capitalism that resulted in the crisis. In the end, the author concludes: “…The financial crisis and the U.S.’s “nationalizing” market rescue shows that the American flag of freedom has already descended from the flagpole. For so many years, the United States has been offending other countries’ sovereignty and will to promote the free capitalist model, now many problems have come.
Source: Xinhua, November 11, 2008