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Debt-ridden, spendthrift Westerners lecturing surplus-hoarding, hyper saving Chinese? How does such arrant nonsense come to be?

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This almost complete and unthinking acceptance by American economists of the, view that there is no development like capitalist development has resulted in studies of China that lack insight and are generally unsatisfactory…The picture that is presented by these studies as a whole as Hegel claimed, most economic experts is one in which China, while making some progress for a time in certain areas, is just barely holding on to economic life.

It is a picture of a China always close to famine, making little headway while the rest of the world moves ahead, being involved in irrational economic policies, and offering little reason for hope that the lives of her people will be improved. Our China experts, furthermore, know what is wrong, and that in a word is Communism.

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  5. They seldom fail to pass judgment on some aspect or other of Chinese economic development, and this judgment is almost invariably capitalist-oriented. Thus, national planning and government-controlled prices cannot be good because they do not meet the criteria of consumer sovereignty and competitive markets; communes violate individualism and private property; ideological campaigns upset order and harmony; the de-emphasis on material incentives violates human nature and so reduces individual initiative and economic growth; the breakdown of specialization lowers worker.

    This sort of thing pervades much of the economic literature on China. Jul 06, Asia-Pacific China. Godfree Roberts Debt-ridden, spendthrift Westerners lecturing surplus-hoarding, hyper saving Chinese? Sign up for the weekly Knowledge Wharton e-mail newsletter, offering business leaders cutting-edge research and ideas from Wharton faculty and other experts. I do we can save to log to your shop fault lines in chinas economic terrain.

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