China plan on wealth gap preserves much of state firms' cash pile

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godfree wrote:

This is an example of typical policy implementation with Chinese characteristics: years of discussion, some more years of trial in one or two SOE’s, thenlegislation, followed by a relatively mild level of initial implementation.
It’s pretty much the only way government CAN be effective in a country as large as China, and it is certainly effective. It’s how they’ve grown their economy and kept the support and trust of 85% of their citizens for the past 35 years.
Our own “democratic” process is like shock therapy by comparison.

Feb 08, 2013 9:45pm EST  --  Report as abuse
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