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Wednesday 16 Aug 2017 | 23:48 | SYDNEY
Wednesday 16 Aug 2017 | 23:48 | SYDNEY

China links: Concert of powers, Hayek in China, hukou, Armitage and more

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19 August 2013 15:56

...China has barely developed any globally significant companies. Moreover, such is the lead of the advanced countries’ incumbents that it is going to find it extremely hard to do so. From the Chinese perspective, therefore, the striking feature of their economy remains its dependence on the knowhow of others. This explains China’s desperate efforts to obtain that knowledge. A further implication is that China is very far indeed from “buying up the world”. The paranoia about its impact is unwarranted.

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