Friday, November 28, 2008


A financial blogger called London Banker has some to-the-point remarks on the relative decency of the financial planning of the putative democracies and that of China, what's with the westerners working frantically to protect the interests of the wheeler-dealers while the Chinese focus on the wellbeing of actual small businesses.
Any discussion of China always invites criticism of its anti-democratic governance. … If the democratically elected governments … are free over an extended timespan to ignore the interests of the people, then how is a Western democracy superior to a Chinese bureaucracy? From looking at the policies and practices of the past year, the merits of Western democracy are not immediately apparent in ensuring that policy responses to the financial crisis are aligned with the interests of the people. Even over the past decade, it is not clear that the policies of the democratic Western governments have aimed to strengthen and broaden the economy to benefit of the electorate rather than a narrow, self-serving elite.

Read the whole post here.

No comments: