American consumers with an appetite for inexpensive and cheap Chinese products got another taste of China recently, a dental paste tainted with a poisonous chemical used in antifreeze products; and they aren't alone. A few months ago, Panamanian consumers got their own taste of the same poisonous chemical in cold syrups, suffering serious health problems, with 100 ending up losing their lives.

As the Chinese government recognizes in its own surveys, the problem with tainted and substandard products is typical, not accidental, extending to a number of other products, baby formulas, candies, preserved fish, toys, and home appliances-most of which are consumed by China's own people. What the government fails to recognize, however, is that the problem is rooted in the country's emerging economic regime, a capitalist system that has many parallels with the unconstrained and unrestrained Victorian-era English and Wild-wild West American capitalism of the mid-19th century rather than to today's American or European capitalism. China's rising business community sees capitalism as a system of gross and unscrupulous profiteering rather than a system of value and wealth creation. How else can one explain incidences of substandard milk formulas that cost the lives and the normal development of scores of infants, and the re-cycling of contaminated blood that infected thousands of people with AIDs?