At Sigma, we frequently share articles and white papers amongst the staff that we believe will enhance colleagues understanding of capital markets. In that regard, the Wall Street Journal published an editorial on October 10, 2024 titled, “China Rides a ‘Stimulus’ Rollercoaster.” Our esteemed colleague, Wenma Gorman CFA CFP® , wrote a powerful, cogent and potent internal response that we felt compelled to share. It is particularly timely as the elections near.
Bob Bilkie, CFA
For Xi and the CCP, the ultimate goal is to maintain their grip on power, not to improve the general public’s well-being. When people cannot vote, the ruling class has little incentive to keep the people’s best interests in mind. Instead, the general public becomes a tool for maintaining their rule. If you’re fortunate, they might occasionally throw you a few favors, but most of the time, they’ll keep you on a tight leash.
You may have studied Lincoln’s Gettysburg Address in school, and it might not have seemed like a big deal. But when I first read those famous words, I was shocked and deeply moved: ‘that this nation, under God, shall have a new birth of freedom—and that government of the people, by the people, for the people, shall not perish from the earth.’
Born and raised in China, I witnessed firsthand how the government abused its power throughout my childhood and into my 20s. The one-child policy is just one example. Yet, despite their actions, the government consistently claims that everything they do is for the good of the general public.
This is also why I have faith in this country. Even though society may be politically polarized right now, I believe that sooner or later, we will find common ground.
All comments and suggestions are welcome.
Wenma Gorman, CFA, CFP®
