Thursday, October 27, 2005
Extreme Capitalism: Chinese Style
Living Hand to Mouth - New York Times
Arriving in Shanghai:
Thomas Friedman's column this week is the dynamism of capitalism in China today. This strange mix of a strong centralized communist state and the market has created a tremendous engine for growth:
He might have added that it will have the same affect here at home on our frugal welfare state. Friedman's argument is that this rate of growth will have consequences and is in the long run unsustainable. The effect of unchecked development on the environment is enormous. Friedman's point is that China is a bigger economic and environmental threat than a military one, and that the U.S. needs to encourage China towards a path of sustainable development.
Arriving in Shanghai:
"As you wait for 90 minutes to get your visa stamped at the airport, crushed between traveling Chinese and visiting investors, you can feel that you are in a country engaged in extreme capitalism. Every other person around me in the visa line was already on a cellphone or P.D.A. - as if people could not wait to get through passport control to start doing deals."
Thomas Friedman's column this week is the dynamism of capitalism in China today. This strange mix of a strong centralized communist state and the market has created a tremendous engine for growth:
"Not only is China not a communist country anymore, but it may also now be the world's most capitalist country in terms of raw energy. Indeed, I believe history will record that it was Chinese capitalism that put an end to European socialism. Europe can no longer sustain its 35-hour workweeks and lavish welfare states because of the rising competition from low-wage, high-aspiration China, as well as from India and Eastern Europe."
He might have added that it will have the same affect here at home on our frugal welfare state. Friedman's argument is that this rate of growth will have consequences and is in the long run unsustainable. The effect of unchecked development on the environment is enormous. Friedman's point is that China is a bigger economic and environmental threat than a military one, and that the U.S. needs to encourage China towards a path of sustainable development.
