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Strategies & Market Trends : Asia Forum
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To: danderso who wrote (816)1/14/1998 9:23:00 AM
From: kormac  Read Replies (1) of 9980
 
Dave,

After I wrote the post I reread Paul Krugman's article which appeared
in Nov/Dec 1994 issue of Foreign Affairs and is reprinted in his book
Pop Internationalism. According to him inputs also consists of the new factories and even if these factories are inefficient, since they employ workers who before might have been doing manual labor on farms,
the output does increase and so does output per capita. Nevertheless productivity may be remain very low. I must add, however, that Krugman
in his article talked more about other Asian economies than China's and admitted that the analysis of China's growth is not easily understood, partly because of the unreliability of statistics.
In any case he believed that China has increased BOTH inputs and productivity, but is unsure how much each contributes to the growth.

Regards, Seppo
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