The New Right (”let’s do incremental economic reforms, but let’s do them fast and let’s be aggressive about them, privatize state owned enterprises with all deliberate speed, etc.”) were behind much of China’’s success the past several decades.
More recently, the “New Left” (”we need to slow down growth, focus on the environment, focus on issues of social and equity and harmony, etc.”) has gained favor, both with the general populace and many top CCP government leaders.
Many in the West are not even aware this economic and social debate and controversy currently rages in China, and how momentum has shifted from the New Right to the New Left in recent years (did you?).
See this interesting op-ed piece relating to this subject that recently appeared in the Wall Street Journal [subscription required] titled, Development Doesn’t Require Big Government.
Said article argues, among other things, that developing countries are learning the wrong lessons from the current US economic crisis.
Your thoughts?
Should developing countries like China continue to move forward with all deliberate economic growth and speed, or, pull back the growth throttle? Discuss and defend your answer.
And, would your answer change if you were a Chinese citizen? Chinese economist? Chinese government official? (Versus a person sitting in the comfortable confines of your own, wealthy, developed country?)
For more on this important topic, check out Mark Leonard’s new book, What Does China Think?
