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Politics : Foreign Policy Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (527)	12/17/2002 3:22:05 PM
From: mistermj	Respond to of 15987

China: Development vs. Business Cycle >>"The most important symbol for successful development is a country's ability to acquire and apply technologies, in my view. This is where China is far more successful than any other country since Japan's development. The technology acquisition and diffusion in China are highly decentralized and yet very fast. This is in sharp contrast to Japan's model." "China's ability to reduce technology prices, therefore, is vital to its development model. Technology couldn't have such a reach here, if everything were imported. Chinese income levels are too low for imports to reach high penetration. If China couldn't produce its own technology goods, it couldn't develop as fast. This is totally different from the standard development model that focuses on static comparative advantage. " "China's ability to add value exceeds what the Tiger economies could do even today, I believe. There are more Chinese companies with intellectual content than in the Tiger economies combined, in my view. The Tiger economies managed to add value in the production process. Chinese companies are already creating intellectual properties and competing against multinationals in similar fields. The difference is of course in the size of the population. It's easier to find a few smart people among one billion than among one million. China even managed to come up with a number-one NBA draft pick! " << morganstanley.com