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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Jacob Snyder who wrote (6793)8/6/2001 6:25:59 PM
From: KyrosL  Read Replies (1) of 74559
 
Jacob, you don't really believe that China is like any other developing country? Its saving rate is well over 20%, so a great deal of the funds required for development are generated internally. It has a strong entrepreneurial culture that a generation of communism did not erase and the current regime (only in name communist) is strongly encouraging. It has a long tradition that highly values education and already has a large educated class. And its autocratic but stable regime strongly encourages rational economic development and eagerly copies the best that capitalism and western democracies have to offer. Of course there is corruption, injustice, etc. but I believe that they are proportionally less than most developing countries and even some developed ones. I think Chinese superpower status within a generation is a given.
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