While I’m not oblivious to geopolitical concerns, I don’t worry about China becoming a more prosperous nation. Yes, more wealth could enable the nation’s dictators to finance some unwelcome aggression, but I mostly think higher living standards will create pressure for political liberalization.
In any event, the United States is in no danger of being overtaken by China in our lifetimes (or probably ever).
With that bit of background, you can understand why I have a somewhat relaxed reaction to the news that Chinese regulators nailed a McDonald’s franchise for allegedly breaking the rule about serving chicken wings within 30 minutes of preparation.
Here’s my discussion of the topic on Fox News.
I’ve written about the burden of regulation, and I’ve highlighted examples of absurd regulation, but the most important part of this interview is the explanation that wealthier societies can afford higher standards.
Communism and other statist ideologies are evil, but it’s also worth noting that most of the worst examples of environmental degradation occur in societies with heavy government control, not wealthy capitalist nations.
