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authoritarian regimes can start off very efficiently, but eventually collapse because of corruption. The corruption results in very inefficient allocation of ca
by achenatx 7y ago
authoritarian regimes can start off very efficiently, but eventually collapse because of corruption. The corruption results in very inefficient allocation of capital. The chinese govt is very corrupt with an estimated million civil servants taking bribes.
If china is lucky xi jinping, who is now president for life, will be a great ruler for his whole life. If china is typical, he will make some bad decisions and the system will collapse.
- ardy42 7y ago> authoritarian regimes can start off very efficiently, but eventually collapse because of corruption. The corruption results in very inefficient allocation of capital. The chinese govt is very corrupt with an estimated million civil servants taking bribes. The PRC definitely has a lot more low-level corruption, but the US has enough high-level corruption to be concerning.
- seanmcdirmid 7y agoThe PRC has lots of high level corruption as well. Much of the Chinese economy is already owned by a few powerful red families.
- mitfahrener 7y agoAh no. Chinese economy is much bigger than something a few families can own.
- mhh__ 7y agoMuch and most are not synonymous in this context