The article talks about how China calls themselves communists but when you look at their economy they are really pretty capitalist. The article explains that China is only communist when it comes to the political party in charge, but that their economic system is a capitalist one. "China shows that when it comes to economics, the dividing line among the world's nations is no longer between communism and capitalism. Capitalism has won hands down. The real dividing line is no longer economic. It's political. And that divide is between democracy and authoritarianism. China is a capitalist economy with an authoritarian government." The article then talks about how the world has thought that capitalism and democracy have been seen as being a pair, and how democracy "needs" capitalism, but looking at china it seems as if capitalism does not "need" democracy.
1 comment:
Undoubtedly, China's sustained growth has propelled the idea of the possibility of the 3rd way. Clearly there are cultural/historical elements involved where one can say that China prizes stability and growth above freedoms which is a Western norm.
Nonetheless, its interesting to note how China is making a lot more long term investments in education, infrastructure, which enhances its growth potential in the long run.
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