Reforming China’s Commanding Heights by Michael Spence – Project Syndicate

This is an excellent, must-read article from Project Syndicate. Check it out!

via Reforming China’s Commanding Heights by Michael Spence – Project Syndicate.

I too commend China for its reforms and strong position on corruption. I also agree that widespread privatization in China at this stage would be risky. Look at the record of privatization in the UK or Russia, for example?

However, I think that it’s all too easy for the West to be critical of corruption in many rapidly developing economies. But on closer examination, the Western model is not that snowy white. Perhaps there is less direct corruption in the West but the system seems to promote increasing fraud, without the checks and balances in society. In this latter regard, Germany should be a beacon of best practice, with a a good balance between law, politics and stakeholders?

Any thoughts on reducing corruption and fraud?

Some of our best blogs on China….

Close up of a cute baby 7-month old panda cub ...

Close up of a cute baby 7-month old panda cub in the Wolong Nature Reserve in Sichuan, China. Photo by Sheila Lau. (Photo credit: Wikipedia)

The South China Sea coast at Hainan.

The South China Sea coast at Hainan. (Photo credit: Wikipedia)

Looking back, this is worth a read. Open this link to our most popular blogs on China, ranked by number of hits.

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