Sat, 14 Mar 2009

China's Way Forward

Fascinating piece by James Fallows on how China's coping with the current economic climate.

Outsiders can rightly criticize the Chinese government if it tries to sneak in new export subsidies or push the RMB’s value back down. But no one can criticize its ambition to increase the rewards for its people’s work. Many Chinese companies will fail or make mistakes under today’s intense pressure. But many are using the moment to prepare for their next advance. The question for Americans to think about is how we are using the same moment.

(link) [The Atlantic]

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