Deng Xiaoping understood something that Chinese leaders for before him didn’t – having no limit to individual wealth accumulation is a good means to ensure the rise of wealth for the masses. That is a wordy way to say that capitalism works.
Joe Nocera writes for the NY Times and he has three very good stories over the last month. Those are:
Each of these stories are great because they hit on the spirit of the Chinese people, whether it is in trying conditions (the rising yuan) or in prosperous ones (successful CEOs). Each story also ties in with the other two, so reading all three is beneficial to get a true understanding of where the Chinese people aim to go.
While reading the articles I couldn’t help but think about India as well. Many people tie the two nations together because of their populations and growth. I tie them together because of their different approaches to the success they’ve experienced. For instance, China is really good at crafting and assembly of predesigned goods. India has a schooling approach where services are priority.
As each country grows their middle class what will change? I guess that China will attempt to improve their creativity output with learning programs. India will experience a challenge in governance – both politically and in commerce.