Posted on 11/09/2013 5:50:31 PM PST by BenLurkin
One likely target is the nation's old, behemoth state-owned enterprises, many controlled by a clique of elite families. The enterprises still hold sway in the economy, heavily subsidized and benefiting from monopolistic pricing. Also expected to come under scrutiny is an archaic residential registration system known as hukou, which prevents tens of millions of people from moving to cities with the best jobs and schools.
For all the hype about the China "miracle," economists note there are other countries that achieved huge spurts of growth in the 20th century — among them Japan and Brazil — by pouring investment into infrastructure and factories.
"If you look at the history of the countries that have followed this growth model, rapid growth was the easy part. The adjustment process has always been brutally difficult," said Michael Pettis, a finance professor at Peking University.
(Excerpt) Read more at latimes.com ...
That sounds a lot like Obamanomics.
China is a closed system.
America is an open system.
Why is it, the closed system is winning?
Huh?...
BRING BACK JOBS TO AMERICA.
The ascension of Red China to Number One Super Power in all of history scheduled for next Tuesday afternoon, about tea time, has been postponed indefinitely . . . .
Pei-Ping.
One likely target is the nation's old, behemoth state-owned enterprises, many controlled by a clique of elite families. The enterprises still hold sway in the economy, heavily subsidized and benefiting from monopolistic pricing. Also expected to come under scrutiny is an archaic residential registration system known as hukou, which prevents tens of millions of people from moving to cities with the best jobs and schools.
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