Beet
Atlas Star
Posts: 28,975
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« on: August 30, 2016, 03:26:18 PM » |
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If China gets stuck in the middle income trap, as looks more likely, its nominal GDP will never surpass the U.S.
China's current problems are because its political leadership quality has deteriorated sharply. The revolutionary generation (Mao; Deng) lived lifetimes. When they were bad, they were epically bad (Mao), but when they were good, they were epically good (Deng). Since then what they've had is increasingly a generation of mediocres, in a dysfunctional political system. Anyone who challenges authority of sticks his head out is chopped off (such as Bo Xilai). The present top of the party is rather unimpressive at most things, besides consolidating his own power. All of this has had negative knock-on effects on the economy.
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