China’s economic story... serves as a cautionary tale. [I]n 1978... it began... major reforms... people were… — Keyu Jin
China’s economic story... serves as a cautionary tale. [I]n 1978... it began... major reforms... people were mired in poverty. In... ensuing decades, hundreds of millions... were lifted out of poverty. ...But ...[at] a high price ...below-market wages... low... return on... savings... cheaply built housing... environmental degradation and wasted resources... based on a high-cost, high-growth model.
A poor nation with ambitions... taking shortcuts. ...Rules and regulations ...bent ...to foster GDP growth. Unfair competition... between... insiders... and the... people... countenanced so long as capital flew in, investment grew, businesses boomed, and GDP surged.
Source: Wikiquote · CC BY-SA 4.0
More from this book
... indicates... 95 percent of Chinese... had... confidence in... government, compared to 33 percent in the US and 45 percent... in the rest of the world. As of 2022... 91 percent, compared to 39 percent in the US. ...[S]atisfaction levels tend to be lower for s.
China’s investment in ... 40 percent... of GDP... for a country... halfway through... urbanization... may not be high....
[T]he Chinese... try to balance obligation and deference with free will.
