Reading Krugman’s article, I almost thought that I was reading the views of a conservative, passionate about neo-liberalism and traditional capitalism. But then the subject was China and he concluded rather arrogentlyvwith the view that the Chinese leadership aren’t so smart after all. Presumably, Krugman is smarter?
As a long-standing China watcher and admirer, I take exception to Krugman’s conclusions that are not really derived from his argument.
I agree that China has enormous challenges and from time to time makes mistakes, but the Chinese leadership is visionary, strategic and decisive. In my view, China will overcome her current obstacles – there may be some pain but China is not new to suffering.