Compressing Decades Into Days

We found an interesting post by Daniel Altman on the International Herald Tribune's Managing Globalization blog discussing the historical similarities between China's rapid development and the development in the U.S. and Britain many years earlier.

...There is much in China’s rapid development that mirrors what happened in the United States a century ago, and in Britain decades before that - with most of the ugly side effects included. But it’s all happening so much more quickly in China, including, it seems, the government’s response to those very side effects.

That’s not to say that economic policy in China changes quickly. So far, the development of its authoritarian capitalism has taken almost three decades. In that space of time, however, its economy has become capable of competing with the West even in high-value exports, as Keith Bradsher writes.

To read the full post, click here.