Saturday, September 17, 2011
Privatisation with Chinese characteristics
I find this article interesting because I think it is intriguing, the fact thatwe know so little about one of the world’s largest and strongest economies. China has been growing rapidly, but as we see in this article we aren’t exactly sure about what is going on in China. Their economy seems to be a mix of private and government-owned corporations, but there are still major sectors of industry controlled by the government such as China Construction Bank. When there are major corporations that are owned by government, corruption sets in. The question is with the high amounts of corruption in China will they be able to provide the world with a steady economy?
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Some even think the Nation Bureau of Statistics of China is corrupted. When looking at their GDP growth rate, CPI and other economic statistics, better be advised.
ReplyDeleteA very interesting article indeed. I have always been skeptic of China's astonishing growth rates. Growing and growing with long term stability are very different and I feel China lacks the latter. State Capitalism is particularly deceitful as it can be easily confused with mixed economies. I feel that China is prone to a revolution if information control is eased even a little bit. It will be interesting to see what will be the outcome of such an event on China and the world.
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