“Davidson” submits:
Human beings are ‘information-processors’. We feel more secure when we have enough information to understand all aspects of any situation. This is likely part of our DNA’s survival drive. We prefer to rely on our own independent judgement as our world impacts us rather than have someone else make decisions for us. We have a thirst for information which frees our own judgement to operate independently with confidence. Exercising independent judgement is built into the phrase ‘The Golden Rule’ which fosters individuals acting independently to judge the fairness with which we treat one another. It also is the driver behind Democracy, Free Markets and the concept of the ‘Lean Manufacturing’ focus of better managed companies. Levels of self-governance separates the performance of companies for investors and the outcomes for entire countries.
Innovation had a tremendous influence on society when Steve Jobs’ iPhone created the Smartphone market. Smartphones permitted mobile access to vast libraries of information which drove sales which individuals felt compelled to access. The effect was millions of newly entitled individuals to make personal decisions based on their own judgement of available information. The impact was to question existing leadership which became increasingly viewed as ineffective. The Democratic influence of the iPhone has been mostly unrecognized. Some briefly credited 2010’s “Arab Spring” pro-Democracy movement to it, but the influence in fostering independent thinking by individuals which is the underlying basis for Democratic societies is likely responsible for the self-governance demands leading to UK’s BREXIT and Trump’s election. Citizens, having become irritated by self-serving globalist-focused leaders to the detriment of individual property rights, shifted to regain their decision-making authority.
Regarding the Yuan “Devaluation”:
The media call the Yuan fall a ‘devaluation’ as if it is something planned by China. It is not. This is capital flight and a response to threats to Hong Kong’s independent financial system. This is investor panic which may force the Chinese back from the brink if cooler heads prevail. They had their Hong Kong agent back-peddle the ‘Extradition Law’ but this may not be enough for citizens.
Fingers crossed. Chinese leadership is not geared to understanding the importance of Free Markets for their own success. Perhaps they will not do something stupid?
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