HONG KONG – Since China regained sovereignty over Hong Kong on July 1, 1997, the city has prospered economically, but festered politically. Now, one of the world’s richest cities is engulfed by protests, which have blocked roads, paralyzed the airport, and at times descended into violence. Far from a uniquely Chinese problem, however, the current chaos should be viewed as a bellwether for capitalist systems that fail to address inequality.
Trump speaks of the United States as an economy in decline that must be revitalized. But the reality is that the US economy has been performing rather well in the last two years. Its recovery has outpaced that of other advanced economies; job creation has been impressive; and the dollar has been strong.