China: Wisdom and leadership with a friendly face
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So…
Read this article about us all holding on to our knickers with regard to the China situation.
The author cites the cause of the problem being the shift toward free-market.
The problems in liberalization of capital markets are causing instability.
China is a fine place to invest after all.
Having lived there, I know many of the problems first hand.
Confucian bureaucracy
Yes, China is a bureaucracy.
And as they say, the bureaucracy feeds the bureaucracy. Making the bureaucracy feed the capitalism may cause problems.
Not just, as the author suggests, in the logistical, functional, and organisational aspects, but also in cultural. And China has 5,000 years of culture as any Chinese man will be more than willing to tell you.
Making a cultural shift from Communist Bureaucracy to Free market capitalism takes time. Maybe a generation. Maybe longer. …