Re:Stop throwing cash at poor nations
by alexasmyths on Thursday October 26, 2017 @09:15AM
(#15558492)
It's not magical to assume that the Chinese are as capable of managing their economies roughly just as everyone else.
The basic rules for managing an economy are well known - all you have to do is follow them.
If you do this - you'll get a minimum level of GDP/wealth etc. just like Poland, Mexico, Serbia or wherever.
Re:Stop throwing cash at poor nations
by RingwormOne on Thursday October 26, 2017 @10:29AM
(#15559091)
Of course they're capable. That's apparent. But a strong capital base does not fall into a nation's lap simply because its people are capable.
The Chinese had very little capital, then over the course of the 80's built it up. How? Through direct investment. They were given the investment because investors recognized that Chinese commitment to property rights and stability.
You make the claim that because China was strong in the past it magically should be expected to return to strength in the future, and that foreign capital or not, such a rejuvenation would be inevitable. That's magical thinking. As I said, yes a strong cultural heritage has greatly helped the Chinese, but the initial spark and driving force during much of the 80s and 90s was foreign capital investment.