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To me, China looks more like the logical conclusion of capitalism than some competing economic system.
by yifanl 7y ago
To me, China looks more like the logical conclusion of capitalism than some competing economic system.
- Animats 7y agoToo early to say. The "Asian tigers", Korea, Singapore, Japan, etc. had a similar trajectory. If you believe Pikkety, that type of growth levels off at the level of developed countries once catch-up is achieved. Which is not a bad place to end up. There are then stagnation problems. Japan hit that first. The countries that have hit stagnation, other than the US, tend to build good public infrastructure. This pumps money into the economy, but not through the banks.