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"A low trust country" is maybe not the most elegant way of phrasing it. But China does not have the rule of law and long-term stability in politics, policies an
by marvin 7y ago
"A low trust country" is maybe not the most elegant way of phrasing it. But China does not have the rule of law and long-term stability in politics, policies and enforcing contractual agreements, established historically or by implication, to nearly the same degree as most Western countries. The trend of rich Chinese investing in property in the West demonstrates that Chinese citizens are also well aware of this, and are hedging their bets.
This is an often underappreciated point regarding the industrial and innovative ability of Western society. It remains to be seen whether it's a precondition to being the most powerful nation in the world in terms of technological development and industrial capability. (In the same way as the question of democracy/freedom of speech in general being such a precondition).
- gingabriska 7y ago>The trend of rich Chinese investing in property in the West demonstrates that Chinese citizens are also well aware of this, and are hedging their bets. Or they might be simply diversifying because they've too much? It was not uncommon for Americans back in 80s to have a Holliday home in Europe for same reason. We never say Apple manufacturing in China implies that Apple do not trust American government?
- ksec 7y ago>....rule of law and long-term stability in politics, policies and enforcing contractual agreements, established historically or by implication, to nearly the same degree as most Western countries. May be it is time to stop using the word Western, which is a word China likes to use. Both I don't see Japan, South Korea, Australia being in the West. May be we should start using the world "International".
- marvin 7y ago«Democratic» might work too. Although there are powerful efforts to turn that term into a joke.
- benlorenzetti 7y agoThe trend of rich Chinese investing in US property is likely also due to the trade imbalance. Just supply and demand.