Olympics Update
After the spectacular opening ceremony, Olympics games started with usual sprit and enthusiasm. Good news is, India ends its 112 year drought, Indian shooter Abhinav Bindra wins first gold medal for India. India won many gold medals from team sports but this is the first time that India won a gold medal for individual performance. This is good for a country is full of Cricket crazy people, his gold definitely helps some youngster to start playing other sports.
As usual, Michael Phelps is in hunt for gold medals for team USA. I think he is born for swimming, his special ability is under water swimming after turn over, that gives a big push for him. Yesterday’s 200 M freestyle, no body can come near to him. Sunday’s basketball game between USA and China was also great. Just before 2nd half, USA showed all acrobats and over powered China.
The same day, cycle road race also fantastic, not the game though, the race was some 6 hours or so, they covered Beijing’s outskirt, what a beautiful landscape and scenery. I think Beijing is a must see place before die.
While watching all games and China closely, I start wondering how come they transformed from socialist, ideology driven to capitalist, global economy power house. I searched some documents and found a good one. Even China’s growth also hidden or not documented well or all biased. But this document provides some good points. http://www.imf.org/external/pubs/ft/op/232/op232.pdf
1. China’s reform can divide into 30 year phases, first phase is 1949 to 1979 was socialist way of reform, obviously that was failed. Second phase 1979 to current is socialist backed open market.
2. China’s growth was incremental and experimental. The current socialist based open market phase was further divided into 5 sub phases.
3. 1978-1984: Farming was decentralized to household level. Tax cut to state run companies based on performance.
4. 1984 – 1988: Breakup to mono banking system, open market for 14 costal cities, new wage setting
5. 1988 – 1991, 1992-1997: Continue reform across China and inflation shoot up to double digit
6. 1997 – Current: Opening farm business for multi national and speed up reforms.
By reading the document, i got a sense that China’s growth mainly because of WTO’s accession and push, from bank reform to privatization of state own corporation, open market price determination. China preserved socialist based communist regime after 1949 revolution until today, that helped them to accelerate reform and they achieved within 30 years. There is no need for consensus or vote to approve any WTO’s push.
In case of, the democratic way, it would be say 45 years. But democratic way is, get consensus, all voice heard and considered and everybody taken care, which is i think the right way of doing reforms [Great Examples : USA, West European Countries, Singapore, South Korea, Australia and many more…] Slow, steady and win the race.
As usual, Michael Phelps is in hunt for gold medals for team USA. I think he is born for swimming, his special ability is under water swimming after turn over, that gives a big push for him. Yesterday’s 200 M freestyle, no body can come near to him. Sunday’s basketball game between USA and China was also great. Just before 2nd half, USA showed all acrobats and over powered China.
The same day, cycle road race also fantastic, not the game though, the race was some 6 hours or so, they covered Beijing’s outskirt, what a beautiful landscape and scenery. I think Beijing is a must see place before die.
While watching all games and China closely, I start wondering how come they transformed from socialist, ideology driven to capitalist, global economy power house. I searched some documents and found a good one. Even China’s growth also hidden or not documented well or all biased. But this document provides some good points. http://www.imf.org/external/pubs/ft/op/232/op232.pdf
1. China’s reform can divide into 30 year phases, first phase is 1949 to 1979 was socialist way of reform, obviously that was failed. Second phase 1979 to current is socialist backed open market.
2. China’s growth was incremental and experimental. The current socialist based open market phase was further divided into 5 sub phases.
3. 1978-1984: Farming was decentralized to household level. Tax cut to state run companies based on performance.
4. 1984 – 1988: Breakup to mono banking system, open market for 14 costal cities, new wage setting
5. 1988 – 1991, 1992-1997: Continue reform across China and inflation shoot up to double digit
6. 1997 – Current: Opening farm business for multi national and speed up reforms.
By reading the document, i got a sense that China’s growth mainly because of WTO’s accession and push, from bank reform to privatization of state own corporation, open market price determination. China preserved socialist based communist regime after 1949 revolution until today, that helped them to accelerate reform and they achieved within 30 years. There is no need for consensus or vote to approve any WTO’s push.
In case of, the democratic way, it would be say 45 years. But democratic way is, get consensus, all voice heard and considered and everybody taken care, which is i think the right way of doing reforms [Great Examples : USA, West European Countries, Singapore, South Korea, Australia and many more…] Slow, steady and win the race.
Comments
Yes, Democracy is better. it is the wisdom of crowds - most often better than centrally planned. in the long run, it is the only model.