China’s economy will not grow at double-digit rates forever, but the Asian giant is not collapsing. For three decades now, many of the world’s most insightful observers have predicted the imminent demise of China’s system. But these same three decades have also seen China confound expectations. China’s economy turned in double-digit growth rates. China lifted 600 million people out of... Continue Reading
China's growth rate of 7% today means something even more positive than its 12% growth rate in 2005. What does China’s growth slowdown mean to you? I ask here not about the New World Order, global power shifts or whether the United States retains its position as a global hegemon. Nor do I mean the impact on the world economy, a colossal actual thing, but still a relatively abstract... Continue Reading
China might continue growing faster than 6% per annum, but it's not a bad thing either if the country fails to keep that pace. Across all recorded history, 99% of humanity has never invented a single thing. Yet, it is a truth universally acknowledged that long-run sustained progress in economic well-being arises from human creativity and innovativeness. In this regard, the average human... Continue Reading
