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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.29

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Nov 7 4:00 PM EST

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To: Ilaine who wrote (36449)	7/2/2008 9:05:27 AM
From: Moominoid	Read Replies (1) of 217576

The rate of growth has been quite incredible for such a huge economy. Faster than the earlier tiger economies including Japan when they were catching up to the West. But yes it is a similar phenomenon. I don't think it is removal of communism per se. Korea was starting from a similarly poor mainly rural starting point. OTOH the more developed Eastern European economies have not seen mostly the same kind of effect of the removal of communism. It depends also what you replace it with. But yes, liberalization of the economy can unleash incredible catch up growth. We'll have to see whether China can take it to the next stage. You know 18 years ago I was reading articles about how Singapore was doomed and couldn't go to the next level of development because its education system wasn't as good as Japan's or some nonsense. This was in international relations journals in the only international relations course I ever took in the first year of my PhD program (I did a PhD in geography, though I'm mostly an economist really - I did my BA in geography and economics and my last job before moving back to Australia was as professor of economics). Yeah, IR is a mostly useless field as far as I can tell :) Anyway, that certainly proved to be wrong. So I think China will likely do fine in that regard too. Eventually, there'll be more and more cutting edge science etc. done in China. And the political system will continue to liberalize... but slowly. The attitude to China, here in Australia is quite different to that in the US of course. China is seen more or less as the "great benefactor" who is willing to pay silly prices for our resources. I'm planning to go on my first trip there in October. Will be like my first visit to the US (when I came to do that PhD)- I met so many Americans and knew so much about the US before visiting, was interesting to put things into context. Of course my trip to China will be much shorter, but I expect there'll be a lot more in my future :)

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