Skip to comments.China’s coming challenges
Posted on 11/11/2013 10:22:33 PM PST by TexGrill
Fareed ZakariaBEIJINGWe are all struck by the contrast between Beijing and Washington, said George Yeo, the former foreign minister of Singapore. He was referring to the quality of governance in the two capitalsin particular, the sense pervasive in Asia that the United States has lost its ability to execute public policy with competence (see Iraq, Obamacare). Beijing, on the other hand, has been carefully and systematically planning a series of reforms that will likely make China the worlds largest economy within a decade.
The contrast is particularly striking because China faces huge challenges and will need to make major economic, political and social reforms as it navigates through the middle income trap that has affected so many once-fast growing developing countries. The United States, on the other hand, remains the worlds most innovative economy with a dynamic and growing society. It simply needs some common-sense policies on a range of issuessuch as infrastructure, entitlements and immigration. And yet its hard to foresee progress on any of these fronts in the next few years in Washington.
(Excerpt) Read more at the-japan-news.com ...
This is coming from the guys who make Obama and Pelosi look like pikers. Building ghost cities, fudging your economic numbers and pumping toxic waste into your drinking water to save a few dollars can only take you so far.
There are no food stamps in China. Able bodied people are expected to have a job.
“There are no food stamps in China. Able bodied people are expected to have a job.”
They did not do it just by polluting the air and water, they did it by running a mercantilist economy which we should consider. We have dismantled our mercantilist economy with the result that our growth is nil while theirs has rocketed.
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