This morning CNN reported that China’s new “luxury car”, abbreviation (I’m not making this up), BS6, spectacularly failed initial crash testing.

This is somewhat consistent with tainted dog food, seafood, toothpaste, et al.

It reminds me of something Michael Lewis said about Russia a few years ago: “Just because you’re a bad communist doesn’t mean you’ll be a good capitalist.”

History repeats itself.

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