Re: [Pen-l] China's downturn

[Jim Devine <jdevine03@xxxxxxxxx>]

Marv Gandall wrote:
> Below an article from the latest Economist which, even if inadvertently,
> refutes two misconceptions about China:
>
> a) The right-wing myth that a large state sector is economically
> inefficient. If China recovers from the global downturn faster than the US,
> as the Economist suggests it will, it will be primarily owing to continuing
> public ownership of the commanding heights of the economy - to "the
> government’s ability to 'ask' state-owned firms to spend and state banks to
> lend (which) means that the government’s measures are being implemented more
> rapidly than elsewhere...".
>
> This is a legacy of the Chinese Revolution,

the Chinese state was pretty large before the revolution, wasn't it? I
think that was true under the Manchus and under the Nationalists. The
latter were no free-marketeers?

-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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