Lots of wealth, lots of people, lots of flaws – Fei-Ling Wang

From The International Herald Tribune, via A Glimpse of the World:

The ever-growing economic power of China poses important questions: will China, despite its lack of freedom, become a true world-class power? And if and when it does, how should the international community respond?

With 760 million laborers, an average wage that is a small fraction of America’s, and one of the highest savings rates in the world (38 percent to 42 percent, though much of this is wasted by the dysfunctional Chinese banking system), China has enjoyed annual economic growth of 9 percent for the last quarter-century.

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