Kin-ming Liu at PostGlobal

Kin-ming Liu

Hong Kong

Former Washington-based columnist for The Hong Kong Standard, The New York Sun, and Insight on the News, an online weekly published by The Washington Times. Covered economic and political relations between the United States and East Asia, with an emphasis on China, Taiwan and Hong Kong. Former chairman of the Hong Kong Journalists' Association. Currently a business executive at a Chinese-language newspaper in Hong Kong. Close.

Kin-ming Liu

Hong Kong

Former Washington-based columnist for The Hong Kong Standard, The New York Sun, and Insight on the News, an online weekly published by The Washington Times. more »

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No Better Option Than American Capitalism

A year ago, when the Chinese stock markets were allowed to exist in a parallel universe, many suggested that perhaps China, growing ever stronger and stronger, was "decoupling" from the West. China would follow its own path, the thinking went, and leave the West behind in the dust.

Not quite. Hong Kong's local Hang Seng Index, like those in Shanghai and Shenzhen, has taken a free fall. Like it or not, our fate is still tightly tied together with the U.S.

There's no doubt that the American style of capitalism is suffering a major setback. But like democracy, while it was never perfect in the first place, it still is the best model we have. Its strength lies in its strong ability for self-correction.

I have no reason to believe it won't recreate itself, and for the better, this time. The U.S. will remain the model for the world until a better one can be found.

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