Quote:
Originally Posted by dyna mo
oh come on, it's an honest question. not sure why you have to be obtuse about the fact that china's economy is leading the world. i was simply inquiring what the austrian school of thought has to say about that.
and yes, including all of the shit you mention, how does china maintain such a robust economy while subjugating the majority of its people AND completely manipulating not only its own economy but every other economy on the planet.
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- Most of that stellar growth has already proven to be false. Most economists estimate that the GDB statistics provided by the Chinese gov are off by 50%. The World Bank published a report saying that the Chinese numbers were exaggerated by at least 40%.
- If your per capita GDB is very low than any small increase will look like a huge increase in GDB percentage wise.
- There have been modest reforms in China and those would account for the real growth.
If the case of China tells us anything, then it's that its reforms did not go far enough.