>>
10/13/11(Thu)23:21 No. 4480808 >>4480790 Yet
China is still a shithole. The average Chinese person lives like shit,
and if you disagree, then we're not going to get anywhere - I've been
there. Now, yes, China IS growing fast. Why is that? From
the same page I gave you: Another criticism is that for example China,
and more generally several other developing nations, have high growth
rates but relatively low economic freedom. However, developing nations
should generally have higher growth rates than developed nations, since,
for example, they are catching up and do not need to research new
technologies initially, as they can import investments, technology,
organizatorial skills etc. from the rich countries. China started with
very high poverty and very low economic freedom. "To be sure, China's
economic freedom measures just 54 percent in 2007. But 30 years ago in
1977, the measure would have been near zero. By quietly setting aside
Maoist dogma in 1978, the introduction of property rights for small
farmers by Deng Xiaopeng initiated a revolution in economic freedom. As
Milton Friedman anticipated, this small infusion had dramatic and
positive effects. Within a few years, the Communist Party was promoting
the slogan 'It is glorious to be rich.' Looking back, China's economic
freedom has grown by 1 or 2 percentage points every year for 30 years,
and the economy grew along with it: a growth-growth relationship."
Chinese growth may slow if the reforms do not continue. [10] Giving
more economic freedom creates growth. China went from zero economic
freedom to moderate economic freedom in the past few decades, and the
results have been spectacular. However, until they continue to give
their citizens freedom like seen in Japan or the West, they'll never
have the development we do.