Quote:
Originally posted by Colin
Communist countries have always been able to expand rapidly through government controlled industrialization and urbanization. Stalin's Russia was a great example of this. Communism failed in Russia when it got to the point of a huge bureucratic machine - with the price of goods in Vladivostok being controlled by office workers in Moscow.
What makes China different from Russia is their free market reforms. There is a huge correlation between wealthy countries and the degree of freedom of the marketplace. The more free market reforms there are in China the better their economy is - not the other way around.
China will face many obstacles and they have a long way to go - most important of which is that their currency is currently pegged to the dollar which is causing immense political pressure from the US and the EU for China to devalue the Yuan. You know of course the catastrophe that befell the Ruble after it was devalued.
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