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The U.S. Marches Toward State Capitalism With American Characteristics

President Trump is imitating Chinese Communist Party by extending political control ever deeper into economy

Greg Ip

Updated ET

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President Trump fired the head of the BLS, claiming manipulated jobs numbers after a report of slowed hiring. While revisions were more dramatic than usual, these numbers are always revised. WSJ explains.

A generation ago conventional wisdom held that as China liberalized, its economy would come to resemble America’s. Instead, capitalism in America is starting to look like China.

Recent examples include President Trump’s demand that Intel’s chief executive resign; the 15% of certain chip sales to China that Nvidia and Advanced Micro Devices will share with Washington; the “golden share” Washington will get in U.S. Steel as a condition of Nippon Steel’s takeover; and the $1.5 trillion of promised investment from trading partners Trump plans to personally direct.

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