What has fueled China’s remarkable economic growth that has lifted more than 500 million people out of abject poverty and positioned it to become the world’s largest economy?
In part, it’s been fueled by the pipeline of market mechanisms, modern technology and Western management practices that former paramount leader Deng Xioaping untapped in the 1980s.
But according to Yukong Zhao, a China expert at Siemens Corporation, these explanations are insufficient given the potential drags on the economy from government inefficiency and corruption, which President Xi Jinping is struggling to contain.
Zhao argues that Western learning and pro-growth government policies have set loose the real creators of China’s economic success””its people and the largely Confucian culture that makes them, in his words, “ambitious, hardworking, thrifty, caring for their families and relentlessly pursuing good education and success.”
Read it all.
(F Things) Brian Grim–What Christianity Contributes to China’s Economic Rise
What has fueled China’s remarkable economic growth that has lifted more than 500 million people out of abject poverty and positioned it to become the world’s largest economy?
In part, it’s been fueled by the pipeline of market mechanisms, modern technology and Western management practices that former paramount leader Deng Xioaping untapped in the 1980s.
But according to Yukong Zhao, a China expert at Siemens Corporation, these explanations are insufficient given the potential drags on the economy from government inefficiency and corruption, which President Xi Jinping is struggling to contain.
Zhao argues that Western learning and pro-growth government policies have set loose the real creators of China’s economic success””its people and the largely Confucian culture that makes them, in his words, “ambitious, hardworking, thrifty, caring for their families and relentlessly pursuing good education and success.”
Read it all.