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Business execs all over American are quoting Chinese sayings. All the attention that China receives is getting some people really worried, such as people from India. But worry not, subcontinental friends, because Mumbai need not be Shanghai. In fact, India is in many ways better off than is Shanghai. Yasheng Huang, a Chinese economics expert says:
"People refer to China's world class infrastructure, impressive highways, skyscrapers and airports," Huang said on Wednesday evening, speaking on policy frameworks and development strategies of the two Asian giants. "That is an extremely harmful and misleading way of understanding China's success."
Huang was obviously on a roll, because he continued with even more blasphemy, saying that:
He pointed out that most grandiose buildings in China -- that impress visitors without fail -- were built by local governments and could even be called a drain because they diverted valuable resources from more pressing needs such as rural education and private sector financing.
He also said stuff about transparent and effective legal systems, a robust private sector, blah, blah, blah. The take home point is that Mumbai need not get Shanghai-envy, and that each must follow its own path, or do its own thang, as we say in the 'hood.
When you're feeling too caught up in the international keeping-up-with-the-Joneses game, you might do well to keep in mind George W. Bush's recent advice:
"We shouldn't fear a world that is more interacted."
Photo from Tomato Umlaut's Flickr page.
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oh but you see there is a deeper issue here...
everything that he said is true
however, what I am seeing from China is that Chinese economists such as this are at the very least modest enough to admit to our problems and caution China of them
all around me I see many people saying "you know what, China isn't doing well enough in this, let's give others credit for what they do better than us and try to stay sober minded."
while as when I talk to Indians the vast majority of time all I hear is anti-China rhetoric with absolute no admission to their own problems and inadequacies.
I believe that is the very root of many issues.
Chi, I think that reflects a lot of people when it comes to China, not just Indians. And people in general too. We never look at our own problems, but like to point out flaws in others. I think why China is doing well to avoid this, at least for now, is because it can't afford not to. It saw the mistakes of the past, of not listening to advice, and since it's goal is so adamantly to rise to the top, they need to pay attention to the details and flaws.
definitely true
something else though...
the reason China has so far been able to defy a lot of "expert"'s predictions that it is going to collapse
is because, there is a lot of "free advice" available to China
let's face it, the vast majority of the world HATES China, there is no denying that. Most "experts" around the world (such as morgan stanley economist Andy Xie) will go to great lenghts to find fault with china, and point out China's flaws any way they can.
what they don't understand is, these efforts only serve the exact opposite purpose: they end up helping China. They are basically free advice which enables us to avoid these pitfalls and always stay ahead of the game.
in contrast, the world wasn't against Japan during its rise, hence the "free advice", or rather anti-japan rhetoric were rare in those days. As a result, Japan did not necessarily know to avoid certain pitfalls, which are plaguing it now.
So for all China haters...please keep the free advice coming...we need it!!!!
hahahahaaaaaaa