Posted: Thu Dec 18, 2008 5:44 pm
Simon,
i am not sure how it balances, the systems are so different. Japan is a very rule-following country. China does not yet have rule of law. A disadvantage for a capitalist system because the playing rules are not fixed and depend on which officials you can bribe. But there is still massive endeavour which is subject (overall) to market discipline. money rules.
The central government might appear to have very great power in China but practically it has much less, because the country is just too big to control centrally, and there is no way to stop local governments from getting round central rules. And entrepeneurs have great power locally (in some cases they are the local government).
best wishes, Tom
i am not sure how it balances, the systems are so different. Japan is a very rule-following country. China does not yet have rule of law. A disadvantage for a capitalist system because the playing rules are not fixed and depend on which officials you can bribe. But there is still massive endeavour which is subject (overall) to market discipline. money rules.
The central government might appear to have very great power in China but practically it has much less, because the country is just too big to control centrally, and there is no way to stop local governments from getting round central rules. And entrepeneurs have great power locally (in some cases they are the local government).
best wishes, Tom