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.
About Me
- Ted Hu
- Passionate about political economy and believe that some of the world's most intractable problems can start to be effectively addressed through a deliberate, balanced approach to economic development and growth. Believe tax cuts have been over hyped, considering how little we are doing to incentivize private-sector R&D to drive fundamental innovation and to promote business investments developing new markets. I believe technology + smart policymaking are key enablers that need to be embraced by developed nations in a deliberate fashion to address developing nations' issues related to scarcity that cause a disproportionate degree of suffering, which in turn engender terror and global unrest. More trade agreements that promote a significant number of low-paying but life-sustaining jobs, renewable and affordable energy, cheap and nutritious foods, ubiquitous access to vaccines and birth control for 75% of the world's population that have little or nil. * This blog reflects my own views, not that of my employer whatsoever.