Writing Worth Reading
Writing Worth Reading
"The sensible question is not whether China will replace the US, but whether it will start to acquire some of the attributes of a world power, particularly a sense of responsibility for global order." And this has no clear answer
Measuring the size of the global middle class is no easy matter. But here's an idea – count the number of cars in circulation and extrapolate from there. Doing so suggests much greater past and future growth than we've appreciated
"The structure of the Chinese political economy today is consciously designed to resist the transformative effects of participation and eventual integration into a liberal order." Super essay explains how, and why, this came to be
Bland headline and an intro that heaps (too much?) praise on Manmohan Singh. But that's just the set-up. The nub is a criticism that economic reform in India has run into a brick wall erected by rent-seekers and patronage networks
The dominant narrative in the Western media about Chinese factories is that conditions are oppressive and our demand for cheap goods makes them so. But, says Chang, there are other ways of looking at the situation
"The first principle that I learned when I started focusing on China is that nothing is more important to the Chinese than stability – whether economic, social, or political." Understanding this explains a lot about recent events
"Capitalism is destroying the planet. The two old tricks that dug it out of past crises—War and Shopping—simply will not work." Typically provocative essay from Roy on India, capitalism, philanthropy, development
Its government borrows more than it raises in taxes. It has highest debt to GDP ratio in the world. Half the country's tax income is spent servicing its $10 trillion debt mountain. What does the future hold for Japan?
Reconstruction of Afghanistan has failed. West swamped the local economy with too much aid too quickly, producing waste, corruption and profiteering. Economic activity is going to collapse again as soon as the aid stops
Asian economies are showing pragmatic commitment to growth. By contrast, West's mix of ideology and vested interests almost looks like a commitment not to grow. Expect more global economic rebalancing. And political tension
"Today’s global economy is a riot of slipping economic models. And tomorrow the cacophony will be even louder." American, European capitalism seems flawed. Asian approach no better. So, is there a correct way to organise an economy?
Probably not. At least not in the short term. As Zhou Xiaochuan, Governor of People’s Bank of China, recently admitted, increasing the nation's consumer spending to level out global imbalances is "easier said than done". Here's why
