"At Davos, the Democratic governor plans to "draw a clear line between democratic capitalism and crony capitalism," according to his office. Newsom will "contrast California's rules-based, competitive economic model with Trump's politics of intimidation, favoritism, and self-dealing." In short, Newsom wants to articulate his own version of capitalism on the global stage. That, coupled with Trump's Wednesday speech, which is expected to touch on affordability, shows just how hot the topic is."
"The first piece detailed the federal government's investments in private-sector companies under this White House. Newsom's office called those investments "an unprecedented assault on free markets" and took issue with other Trump moves. The White House did not immediately respond to a request for comment about Newsom's statements. A White House official earlier told Business Insider they viewed these equity stakes "as a very powerful tool that we're using very judiciously in very specific sectors for very specific reasons," for purposes of US economic and national security."
California Gov. Gavin Newsom will travel to Davos to rebut President Donald Trump's version of capitalism by drawing a clear line between democratic capitalism and crony capitalism. Newsom plans to contrast California's rules-based, competitive economic model with Trump's politics of intimidation, favoritism, and self-dealing, and to articulate his own version of capitalism on the global stage. President Trump's speech is expected to touch on affordability. Federal investments in private-sector companies under the current White House have drawn criticism as an unprecedented assault on free markets, while a White House official defended those equity stakes as judicious tools for US economic and national security.
Read at Business Insider
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