Teaching Comparative Government and Politics

Thursday, January 22, 2009

Economic Policy 11

Will Communism Save China's Economy?

"So is China going to get pulverized by the economic downturn or will it escape bruised but unbowed? Two perspectives reveal a lot about what we know and don't know about China. One predicts that the Communist Party's capacity to meddle in China's economy is actually that nation's secret weapon.The other cautions that during downturns big exporters (like the United States during the Great Depression and China today) usually get hit harder than the rest.

"In its latest edition, Newsweek has a piece on China headlined "Crisis Winners: Why China Works," which argues that China is uniquely situated to ride out the global economic storm...

"If the Newsweek view is that China is going to dodge the bullet, the other view, presented in BusinessWeek, argues that the bullet is headed straight at China and other major exporting nations..."

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