Julian Mayo, co-CIO of Charlemagne Capital, examines the evolution of China's economic development.
Views on China are typically polarised. On one side are the spiritual heirs, who thought in the mid-1980s the West was doomed to failure due to the chaotic nature of its economies. This is compared to the smooth economic planning of Japan, under the omniscient guidance of the Ministry of International Trade and Industry (MITI). This view holds that the far-sightedness of China's authorities, emulating the best of the Japanese and Korean models, but with a firmer hand on the political tiller, have resulted in an efficient model which will dominate the world. The alternative view is thi...
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