Comment i stand corrected (Score 1) 902
China in 2007 is just like China in 1977 except that its central bank owns more Treasuries. Why didn't I realize that?
Look, anyone who reads a newspaper knows that, since that time, (a) a panoply of totalitarian institutions have been dismantled, leading to unprecedented levels of personal autonomy from the state; (b) standards of living have grown dramatically, as peasants join the industrial economy and the middle class swells; (c) economic freedoms have gone from negligible to moderate, and even in some ways robust; and that (d) these changes are strongly correlated with massive exports of manufactured goods and an influx of foreign risk capital. You draw your own conclusions.
Look, anyone who reads a newspaper knows that, since that time, (a) a panoply of totalitarian institutions have been dismantled, leading to unprecedented levels of personal autonomy from the state; (b) standards of living have grown dramatically, as peasants join the industrial economy and the middle class swells; (c) economic freedoms have gone from negligible to moderate, and even in some ways robust; and that (d) these changes are strongly correlated with massive exports of manufactured goods and an influx of foreign risk capital. You draw your own conclusions.
