China’s liberalization and structural reform drives growth
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China’s liberalization and structural reform drives growth
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Re: China’s liberalization and structural reform drives growth
#2I would have thought that that the "one child" policy played a large part, since it allowed a larger investment in fewer children by parents and society. This, coupled with an educational system that is able to spot talent and develop talented children, has produced a dramatic increase in China's human capital, without which liberalization would be ineffective. The US had a similar emphasis on developing talent in the late '50s and '60s after the Sputnik shock.
Re: China’s liberalization and structural reform drives growth
#3Last year in Shenzhen, a young man walked up to me and excitedly said, "My name is Will, lets get rich together!"
Re: China’s liberalization and structural reform drives growth
#4As someone from China I kinda feel like we are a developed country when I learned I am making more than my peers in UK #GameIndustryPeasant
Re: China’s liberalization and structural reform drives growth
#5There is a simple counter-argument to this:
“It is telling, however, that China is using its long-term planning and robust implementation capacity not to entrench state capitalism, but rather to advance economic liberalization and structural reform.”
Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel very lucky if they can get 6%.
And this is a truly incredible thing for anyone to write:
“The fruits of this approach are irrefutable. In the last decade, a number of Chinese private financial and tech giants have emerged that, unlike their state-run counterparts, have managed to establish themselves as global leaders in innovation.”
So, according to this, it is actually a sign of success that more and more large Chinese firms feel they need to export capital because they no longer see good investments at home. And that’s success?
Re: China’s liberalization and structural reform drives growth
#6There is a simple counter-argument to this: “ It is telling, however, that China is using its long-term planning and robust implementation capacity not to entrench state capitalism, but rather to advance economic liberalization and structural reform. ” Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel…
> Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel very lucky if they can get 6%.
I think your comment is quite incorrect, and shows a lack of knowledge of Chinese history. 50 years ago (1969) China was going through the "cultural revolution" under Mao which was absolutely devastating for its economy. In the 1980s China began economic liberalization under Deng Xiaoping and that was when its economy began growing tremendously. So, there is a direct connection between liberalization and growth. Of course no growth of 8-10% is sustainable over many decades, and it's likely they are simply reaching a new equilibrium.
Re: China’s liberalization and structural reform drives growth
#7There is a simple counter-argument to this: “ It is telling, however, that China is using its long-term planning and robust implementation capacity not to entrench state capitalism, but rather to advance economic liberalization and structural reform. ” Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel…
> Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel very lucky if they can get 6%. I think your comment is quite incorrect, and shows a lack of knowledge of Chinese history. 50 years ago (1969) China was going through the "cultural revolution" under Mao which was absolutely devastating for its economy…
No, for God’s sake, no, the Cultural Revolution was not devestating to the economy. Where did you read that? During the worst year of the Cultural Revolution, China still managed to grow 8%.
Large scale civil rights violations are not automatically bad for the economy. The German economy grew dramatically during the Holocaust and the best decades for the USA overlap with the mass murder of the Indians and the savage oppression of African-Americans. In China, the Cultural Revolution killed 30 million people, but it did not slow the economy.
Re: China’s liberalization and structural reform drives growth
#8There is a simple counter-argument to this: “ It is telling, however, that China is using its long-term planning and robust implementation capacity not to entrench state capitalism, but rather to advance economic liberalization and structural reform. ” Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel…
That's an interesting perspective considering the US Economy hasn't broken 3% GDP growth per year since 2005.
Re: China’s liberalization and structural reform drives growth
#9There is a simple counter-argument to this: “ It is telling, however, that China is using its long-term planning and robust implementation capacity not to entrench state capitalism, but rather to advance economic liberalization and structural reform. ” Right, but whatever the plan might be, it clearly isn’t working, since the economy continues to slow. 50 years ago China clocked 8% to 10% growth a year, now they feel…
That's an interesting perspective considering the US Economy hasn't broken 3% GDP growth per year since 2005.
I don’t think many people realize how long ago was the era when the USA was special. The USA economy grew faster than any other country for most of the period from 1848 to 1929. A huge gap opened up between the USA and the rest of the world. By 1929, the USA produced more steel than all of Europe combined. But the USA has not been the #1 fastest growing nation in any year since 1929.
Re: China’s liberalization and structural reform drives growth
#10China has a population of more than a billion people, the 3rd largest landmass controlled by a single sovereign entity. The only question is how they managed to fall so low that they weren't a competitive superpower.
It is entirely possible that we don't know what the reason for China's rise is over the short term. I wouldn't trust any article written in English to understand the ins and outs of China's special economic zones, special administrative regions and historical norms and customs.
It is very likely that governance is connected to their success and it is also unlikely that the government is wholly responsible for their success. The situation is complicated. Even deciding if they have achieved 'success' is complicated; I'm not envious of the people who live there.