Quotation of the Day…

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… is from page 603 of Deirdre McCloskey’s new paper “Globalization, Long May It Reign,” which is a chapter in the collection Free Trade in the Twenty-First Century (edited by Max Rangeley and Daniel Hannan, 2025):

Contrary to what you might have heard, however, there’s no “Chinese model” to be seen as an intriguing if authoritarian alternative to Western economic liberalism. The Communist Party of China would like you to believe there is. Nope. After 1978 the Party merely started to permit an economic liberalism of the sort partially implemented in the West in the nineteenth century – though of course the Party did not permit anything like a corresponding liberalism in politics. The “Chinese [economic] model” is merely “the capitalist road.”