De ce China functioneaza / Why China Works
Va supun atentiei si va invit sa cititi un material exceptional privind economia Chinei, scris de Rana Foroohar, in Newsweek, in data de 19 ianuarie, 2009. Articolul original il gasiti aici: http://www.newsweek.com/id/178810.
Why China Works
By Rana Foroohar | NEWSWEEK
Published Jan 10, 2009
From the magazine issue dated Jan 19, 2009
China is the only major economy that is likely to show significant growth this year, because it is the only one that routinely breaks every rule in the economic textbook. There is no truly free market in China, where the state doctors statistics, manipulates the stock markets, fixes prices in key industries, owns many strategic industries outright, and staffs key bank posts with Communist Party members and tells them to whom they should lend, and in what they should invest. In fact, the main reason China is not slowing as fast as the other big five economies is its capacity for what economists ridicule, in normal times, as state meddling: it limited foreign investment in the banking sector and didn’t embrace the exotic financial innovations that are the melting core of the global credit crisis.
Why does China’s brand of command capitalism work? The question has long intrigued economists, who tend to cast the state as hopelessly stupid, the market as naturally brilliant. Now that the United States and Europe are moving toward state control—by nationalizing the banking and car industries, and imposing heavy new regulation on the financial industry—the question has a new urgency. China, the poorest and most chaotic big economy, looks like the one best positioned to navigate what may be the worst global downturn in seven decades.
In a time of crisis, China’s bureaucrats can pick from traditional market tools, like their Western counterparts, and from the arsenal of command capitalism… Cititi articolul: integral aici http://www.newsweek.com/id/178810.