For those of you who have worried about China and the convergence hypothesis, a reminder here why we should not worry in the short term. Even though our own house looks to be filled with corruption or scandal, it is a crime here rather than a fairly ritualized practice. That is one of the reasons why we have a stronger economy.
2 comments:
The problem with corruption in government is that it can hurt a lot of people. The more honest a country's government is, the more efficient it is, and that also means a more efficient economy. It's going to be difficult for China to crack down on all its corruption, especially with a newly established agency. But in the end, the trouble is worth it, because corruption only benefits the corrupted.
since the chinese people dont trust their government it is obvious why we have a stronger economy. since our financial system is based the trust we have in our government,our economy is doing well (we obviously trust our government). however, with all the corruption that is happening within the chinese government it is no wonder why we definetly have the better government. if the chinese want a better economy, maybe they should try to prevent some of their scandals
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