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It's not magical to assume that the Chinese are as capable of managing their economies roughly just as everyone else. The basic rules for managing an economy a
by alexasmyths 9y ago
It's not magical to assume that the Chinese are as capable of managing their economies roughly just as everyone else.
The basic rules for managing an economy are well known - all you have to do is follow them.
If you do this - you'll get a minimum level of GDP/wealth etc. just like Poland, Mexico, Serbia or wherever.
- RingwormOne 9y agoOf course they're capable. That's apparent. But a strong capital base does not fall into a nation's lap simply because its people are capable. The Chinese had very little capital, then over the course of the 80's built it up. How? Through direct investment. They were given the investment because investors recognized that Chinese commitment to property rights and stability.