< China has the most dynamic economy on the planet today>
In some respects yes, such as "most people enjoying a GDP per capita growth over 8%". But coming from grinding poverty, that's not a great claim. We filthy rich lazy layabouts in the West are resting on the oars because we can't eat anything else, we've been everywhere, have good medical insurance, and don't hanker for a big yacht, personal Gulfstream or another new car.
When they are up to our wealth, and that would have to include quality of life, such as potable water, breathable air and equable climate, then we will see how dynamic China's economy remains.
It's easy to improve wealth when feeding off those who have been very productive previously, by selling them loads of goods which you produce at low prices [by being paid not much]. Once the low paid are up to speed, with their pay closer to other economic areas, their economy will be tested more seriously.
Then, the soft areas, such as good feelings about the political system come into play. Feelings to do with self-actualisation become significant. Think Maslow's hierarchy of needs. With a dominance hierarchy with their boot on your neck, one feels unreasonably restricted - but will still work to get food, rent, clothes etc.
Hordes of people have fled NZ as the burden of state and stricture and bludging electorate has grown too great. The government is now trying attact back the sixth of NZ who have left the country [that's the more productive sixth too] where their talents are more rewarded.
The same effect will happen, and is happening, in China. Swarms of Chinese who have made their stash are moving here, where life is good [provided you don't have to work as an indentured serf for the state].
China is the world's low-bidder. There's more to a bounding economy than working for low wages as low-bidder. Imagine working for Yiwu the Mad, Bubba and like-minded megalomaniacs.
Mqurice |
