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?