Let Many China Models Bloom | The Economics of China Episode 3

Modeling China is tricky, depending on where (and when) you look within the country, particularly given its large size and rapid changes. So, what is the constant?

Professor Ang introduces how “directed improvisation” works in China—a blend of top-down direction and bottom-up improvisation, producing diverse local solutions.

Produced by Matthew Kulvicki, Nick Alpha & Kurt Semm

[gcingia]

Magnificent series Prof. Ang. Your exposition in ep. 2 & 3 reminded me of my time working in a very advanced software company in Germany years ago.

The structure of this company was not really "democratic", in the sense of the bottom of the company electing the directors, nor setting the direction / products of the company (which, again is quite successful).

The direction is set in the Board of Directors (sort of Politburo?), which, in the case of Germany had workers representatives elected by the workers / employees. Anyone could be a representative. Not sure to what level they set the direction of the company in technological matters... but surely had influence in "social / employee" matters.

At lower levels, the employees will have very much freedom on HOW to implement a new "product" (tech direction), but not in the WHAT, which came from higher levels of management. It can be said that the higher level of management were kind of the best of the meritocracy system (based in "performance reviews", similar to the "cadres reviews" you mentioned, creativity, education).

All this to say that maybe a "correlation" between political freedoms and economic freedoms is open for debate. Specially in the mediocre "liberal democratic" political system in #theWest. Voting every 5-6 years for some party / persons that have the benefit of Patrons with a lot of money is not exactly choosing the "best" bastard. In the #USA it is quite hard, if not impossible, to elect a President that does not belong to the Two main Corporate parties. The system is well designed to avoid this from happening.

In the case of #Europe, the main economic decisions are set in #Brussels, not by the Peoples of Spain, Germany, Italy, Sweden, etc...

No doubt, the #Chinese Model -- _Directed Improvisation_ -- is far more efficient, specially based on REAL meritocracy (at least as an ideal).

Some thoughts. Marvelous discussion. I was looking for the book witten by Prof. Ang... found it!:

[ming]

The main difference, I think, is that China builds things with value inherent in its presence. Like infrastructure and material goods that have practical use. The US economy is primarily based on speculation and pump and dump schemes while building little to no practically useful things with physical inherent value.

[julianclover]

The genius of China is its ability to learn from its own and other countries' mistakes

[pragmaticmediator]

What is special about China's path in its various forms is the ability to adapt to changing situations, to practice self-criticism and to learn from mistakes, which has increased over the decades. This is what is lacking in Western political systems today. While control in Western systems today lies predominantly with private multinational organizations such as Blackrock and WEF, which do not care at all about the well-being of the people, China has political control over its country and has not lost sight of the well-being of the people.

[BlackBoxE]

Very Good, This is an Excellent Presentation

[MilliePlateau]

Perhaps the greatest strength of the Chinese system is its flexibility and adaptability.

[godzillamothra]

all countries have subsidized their economy at some point, the only difference is the degree, the more developed your nation, the less you subsidize, this is rational, after all, who want to subsidize corporation giants.

[prasitclinic]

Sometimes it is difficult for Westerners to understand China's development, due to their different backgrounds and cultures. Asian and Chinese cultures with Buddhism, Taoism and Confucianism abandon the concept of family values, respect for elders and caring for each other, which is different from the individualistic culture of the West that worships capitalism to the utmost. The Chinese government is willing to slow down economic growth in terms of GDP figures if it means widening the gap between rich and poor. The Chinese government prioritizes solving poverty and ensuring that people receive basic services equally. GDP figures that are not consistent with reducing inequality do not make society better than it should be.

[horridohobbies]

Whether or not you like China's authoritarian system, there's no arguing the fact that China is economically stronger than all other economies, that Chinese society is more harmonious and stable than all other societies. Compare China with America and Britain and EU, for example. Visit China and see the truth for yourself.

[limowmotoole]

It’s a good thing we love each other.. peace.

[alphaomega]

China's model is echoed by many economic pundits as exports over imports. 'They lend but don't like to borrow!' This from a financial standpoint is troubling. Yes, its currency has gained strength on the exchange market. At what cost? I am shocked the Yuan is currently at $0.14. And, the Yen is $0.0063 - 33% below what I thought was a stable price. China reaching $0.05 to $0.1 was a miracle but understandable with its lending practice forcing this on the World Bank to protect the USD.

[patbyrneme]

How was it possible for this presenter to not even mention the Five Year Plan system that plays such an important role in the Chinese economy? Nor to examine how it differs from the Soviet version which is key to understanding the more flexible and dynamic Chinese planning system.
Nor did the presenter mention the role of state investment in China which is double that of its competitors and explains how China has built its massive infrastructure and has been so successful in industrial innovation.
Lastly, the presenter did not mention the international context especially in the last decade.
Instead, she focuses on the superficial political institutional questions and the 'great man' approach to history.

[horridohobbies]

3:24 "...lying low and never taking the lead..."

Actually, what Deng said was "Hide your strength, *bide your time, * never take the lead."

Deng did not intend this to be permanent. He believed China should bide its time. But bide its time for what?

In 2012, China's time arrived. It was time for China to rise to its rightful place in the world. China was developed enough, strong enough.

[JamieMorlok]

China's strength lies in its citizens & leaders who work for the people & their nation.
China is like a diamond - unique with clear strategies.

[dvosburg]

My vision of China is more in line with a slug in salt.

[armchairwarrior]

Wenzhou Model is never ever talked about in the West.

[NoPrivateProperty]

metabolic rift applies. no form of capitalism is compatible with life

[selenium-eshl]

The CCP has many benefits that the US could emulate.

[willgates]

Some advice to you, DO NOT use the side view of your face in the video, it is very annoying !!!! Your graphics are very good, but you should make it a more relaxed setting and not have it on a podium as if you are lecturing us, but most of all get rid of using side close up views of your face!!!!