The Secret Document That Transformed China

This story reported by NPR talked about the transformative principle of private property in the farming society of China and how it help push China to accept free market capitalist principles. Since 1978 the Chinese economy when under a transformational shift. It started with a small village when farmers came together to split up the land and allow each farmer to claim responsibility for there proportion of land. With this new ownership agreement the farmers were able to increase there output by five times, this massive increased was noticed by government officials. Luckily these officials held put there illegal actions a model for how China needs to shift there economy. To me this story directly links to the concepts of private property we have learned about in class and how it allows for economic growth and development.

World Bank warns of global growth slowdown

This article titled "World Bank warns of global growth slowdown," is a report from the associated press that reviews some comments made by the world bank earlier this week about the possibility of a slowdown in global economic growth. This article says that developing countries will be hit harder than developing countries, but it also says that no countries will be spared. It also says that every country may be hit just as hard as the 2008 recession, because most countries are in a much worse economic condition than 2008 and thus may not be able to take preventative measures if conditions do worsen. I find this to be an interesting report because most of the other things I have read lately and in talking to people it seems like we are slowly making improvements, not taking steps backwards.

Local currencies: 'In the U.S. we don't trust'

"Economic instability is on peoples' minds," said Gatch.

Now, even state governments are exploring the option. Lawmakers in more than 10 states, including Virginia, Georgia, South Carolina, Idaho and Tennessee, have been circulating proposals to introduce alternative currencies -- many of which would be issued in the form of gold or silver coins.