Wednesday, August 5, 2009

Problems with Chinese Characteristics

Contrary to popular thinking, Yasheng Huang, a professor at MIT Sloan School of Management, argues that China owes its astonishing economic growth not to far-sighted government policy but to hundreds of millions of entrepreneurial peasants. In the following lecture, Prof. Huang reveals not only how small-scale rural businesses created China’s miracle but how that nation’s recovery from the global recession and righting the massive East-West trade imbalance depend on this same under-acknowledged sector.

Many of his ideas in this lecture are coming from his earlier published book, Capitalism with Chinese Characteristics, which was selected by the Economist magazine as one of the best books published in 2008.

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