Quote:
Originally Posted by Sangetsu
Because this is 2009, and the world is supposed to learn from it's mistakes, not repeat them.
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Who are the ones doing this though? The companies in the west. You got to separate political idealogy with economic reality.
This is also directed at MMM:
It's not that simple when you trying to manage 1/4 of humanity. There is a inverse correlation between efficiency and equality when it comes to economic growth (1st basic economics). The model China has taken 30 years ago is:
Given so many people are poor, we might as well increase effiency first at the cost of equality so we can achieve double digit growth. Sure someone will be filthy rich but the poor will still be better off.
Right now the government has realised that the income disparaty between city dwellers in the east cost and the country side is great, and also income in the west part of China and the east coast is also increasing so it has taken measures including:
- Invest in the west compagne
- Abolition of 5000 year old agriculture tax
- Focus on primary/secondary education for the countryside
- Not a single dollar of tax is collected in Tibet
etc.
China is also taking this economic crisis as an opportunity to pour more money into infrastructure ($800bn US), and has just announced a xxx billion (forgot the figure) health package to address the growing health system problem.
China is still poor, for sure, but damn I don't think the west could have done any better than what the current government does in terms of economic policy even if they took over.
Things take time, you can't expect a country with average income 30 yrs ago of next to nothing to become Japan/USA overnight. But China is not stupid either.