How China is Like 19th Century America

Gerald · 11-07-10, 01:12 PM

Is China making an unprecedented leap to the top of the global economic hierarchy? Yes, Martin Jacques asserts confidently in his buzz-generating When China Rules the World. He sees the country, which recently passed Japan to become the world's No. 2 economy, rising smoothly to the top spot by continuing to follow a thoroughly distinctive, Confucian-tinged development path. No, say China skeptics like economist John Markin and hedge-fund honcho James Chanos, with equal self-assurance. They predict that bursting bubbles will lead to a Chinese equivalent to Japan's "lost decade" of the 1990s. To them, as George Friedman pithily puts it in his best-selling The Next 100 Years, which is sometimes displayed near Jacques' tome in airport bookstores these days, China is just "Japan on steroids."

http://www.time.com/time/magazine/ar...029400,00.html

Note:Sunday, Nov. 07, 2010

nikimcbee · 11-07-10, 01:19 PM

I suppose it depends which half of China you are talking about.

11-07-10, 01:12 PM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	How China is Like 19th Century America Is China making an unprecedented leap to the top of the global economic hierarchy? Yes, Martin Jacques asserts confidently in his buzz-generating When China Rules the World. He sees the country, which recently passed Japan to become the world's No. 2 economy, rising smoothly to the top spot by continuing to follow a thoroughly distinctive, Confucian-tinged development path. No, say China skeptics like economist John Markin and hedge-fund honcho James Chanos, with equal self-assurance. They predict that bursting bubbles will lead to a Chinese equivalent to Japan's "lost decade" of the 1990s. To them, as George Friedman pithily puts it in his best-selling The Next 100 Years, which is sometimes displayed near Jacques' tome in airport bookstores these days, China is just "Japan on steroids." http://www.time.com/time/magazine/ar...029400,00.html Note:Sunday, Nov. 07, 2010 __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

11-07-10, 01:19 PM	#2
nikimcbee Fleet Admiral Join Date: Jul 2003 Location: Patroling the Slot. Posts: 17,952 Downloads: 90 Uploads: 0	I suppose it depends which half of China you are talking about. __________________