Pirate talk & doubts on the Chinese miracle

A couple of interesting pieces, courtesy of Michael Warby, a tireless provider of hot links.

This is an interview with a Somali pirate, feel free to take it with a pinch of pirate salt!

How are the pirates organized? (Are there pirate leaders, financiers, and specialists?)

The financiers are the most important since they organize and plan the big shot operations and are able to pay running cost1. Financiers always need to forge deals with traders, land cruiser owners, translators, business people to keep the supplies flowing during operations and manage the logistics. There is a long supply chain involved in every hijacking.

And a local commentator raises some questions about the structure of the Chinese economy.

The absolute size of China means that even if its economy falters, China will continue to be a major presence in the region. However, given the weaknesses in its economic strategy and civil society, we need to consider the possibility that China is becoming more like an unbalanced South American giant such as Brazil than an East Asian success story such as Taiwan and South Korea.

Maybe classical liberalism will win in the long haul!

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14 years ago

NPR’s Planet Money had an interesting podcast on the economics of piracy and the negotiations that go on. http://www.npr.org/templates/story/story.php?storyId=103657301&ps=rs