Here is the flyer for a book about to be released by the Centre for Independent Studies (www.cis.org.au):
"Will China Fail? China’s rise has been a significant driver of growth for the global economy. But is the excitement and optimism about China’s rise justified? Urging us to look beyond the hype, John Lee take a sober look at what is actually occurring within the world’s most populous country."
It goes on to note that the major industries are still in the hands of government, and that these are looking very shaky. Draconian "support" measures may be on the way - these will punish the ordinary citizen....
I imagine that this been kicked around on the Austrian Network before? Did we come to any consensus?
I remember asking a question similar to this on another forum:
Mainly, I'm more concerned with whether China will go the way of Chile. If they can keep up this growth, then great; but hopefully, their people will end up freer because of this.
"Even when leftists talk about discrimination and sexism, they're damn well talking about the results of the economic system" ~Neodoxy
Will China fail? Well, this is a tough question for the Citizens of China. For those who want to know more, the Communist party had adopted a lot of changes since 2000. They had try really hard to crack down on corruptions, fighting against poverty, encouraging the economic growth and maintain their head stay out of the water. So why still someone believe it will fail eventually? That's because of the fundatmental of the political environment of the ruling Communist party. The foundation of wide spread corruptions cannot be up-rooted, because nearly all government officials had a network constructed based on it. Never an official had dare to come clean and admit what they doing is wrong and totally jeopordise the economic of China. Most of the people who had or is doing business with Chinese official know, there is no need for policies and rules, just paid the right people at the right time, there you go.
I am not impress for the reform of the Economic either! It may seems the economical growth and living standard had raised in the city, but none of these benefit had reach to the grass roots. With the huge economical surplus and largest amount of reserve, the least we expected are the improvement on argicultural production, greater educational network in rural area and better living condition in remote towns. However, none of them happen, and also no sight of it in the next 10 years.
China will fail, if the current ruling party won't perform a fundatmental reform on the way of their operations, the determine on terminate all corruptions, crystalize of their stock market and total modernize of their banking systems.