Does China do Capitalism Better than America?
Friday, March 30, 2012
Capitalism is the polar opposite of Communism, so how can Communist China be said to do capitalism better than America? Is it because, as some say, China is Communist in name only but the way their economy really functions is a model of capitalism?
For all appearances, China has emerged
unscathed from the global economic crisis, in stark contrast to its
biggest debtor, America. China's admirers point to its ability to
mobilize state resources, quick decision-making and
business-friendly environment as reasons for its economic
ascendency. But can its brand of state-directed capitalism overcome
rampant corruption and the threat of growing inequality, or will
the American model of innovation and free markets prevail?