Tuesday, July 06, 2004

The great Chinese century - are they ready?

New York Times Magazine has a thought-provoking piece on China.

When we're not the biggest dog on the block anymore, it has to be innovate or die (like Great Britain of last century).

Regardless of the current hype, China will lack freedom and a liberal democracy that we take for granted for a long time to come, which is fundamental to forming a marketplace of ideas and innovation that lead to sustained, non-export led growth. Plus, even bigger question for them will be the 1 billion inland population that don't and won't benefit from this economic growth spurt for the forseeable future.