Saturday, September 27, 2008
China's increased technology
In this article, it discusses how China celebrated their nation's first spacewalk. The article states that it was "mainly aimed at testing China's mastery of the technology." I thought this was interesting because, as we learned in class, the rapid growth rate in many of the Asian countries was due in main part to an increase in inputs, and not from any technological growth. But, judging from this article, China is now focusing on increasing their technology, which could mean that they'll experience even higher growth rates.
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I think it might be still early to conclude that China is indeed experiencing intensive growth. In my opinion, intensive growth requires establishing a foundation for the growth of new ideas (new ideas = better ways of doing things = efficiency). In order to set this base, it takes a long time and a lot of reforms in education, ways of thinking, etc. Since China's economy has just been on the world's stage in the last decade, I don't think it had enough time yet to establish a tradition of innovation, which is the root of intensive growth.
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