Much time has been spent bemoaning the International Olympic Committee’s decision to award the Olympic Games to Beijing because the city is too polluted, or the government is too authoritarian or the Tibetans are too oppressed. While all of these are valid concerns, the fact of the matter is that IOC awarded Beijing the Olympics and the 29th Olympiad is going to start in less than two hours here in Beijing.
This article is a response to: “Booming, China Faults U.S. Policy on the Economy.”
The rate of economic growth in Chinese since 1979 has been dizzying. 400 million people lifted out of poverty. Double-digit year-on-year growth since the early 1990s. Such unfettered growth has caused many scholars and bureaucrats to look to China as the new model for growth and development. The Chinese government, rightfully pleased with its superb economic stewardship, has begun asserting itself and wagging a disapproving finger at the U.S. The Chinese criticisms of the U.S. economy in this article were justified, but insightful criticism of a system does not mean that an alternative system is better. Although the Chinese economy may look good now, it is teetering on a broken foundation.