Comments on: The Best Way to Write a “How Many Millionaires Are There In China?” Story http://www.chinahearsay.com/the-best-way-to-write-a-how-many-millionaires-are-there-in-china-story/ China law, business and economics commentary Sat, 13 Mar 2010 00:18:59 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Stan http://www.chinahearsay.com/the-best-way-to-write-a-how-many-millionaires-are-there-in-china-story/comment-page-1/#comment-75520 Stan Tue, 24 Nov 2009 03:16:42 +0000 http://www.chinahearsay.com/?p=4311#comment-75520 Fair question. Some of what you read says that there is a policy debate within the government on the question of growth and rebalancing. If that is accurate, Hu and Wen are on one side, pushing against the "growth first" crowd. It is undeniably true that a lot of Central Government macro policies are difficult to implement because of federalism issues. Even when Beijing calls for smart investments, for example, you still get ridiculous fixed asset investment at local levels that exacerbate the overcapacity problem in certain industries. As usual, this subject is a lot more complicated than it seems. I wish I knew more about what is going on behind the scenes. Fair question. Some of what you read says that there is a policy debate within the government on the question of growth and rebalancing. If that is accurate, Hu and Wen are on one side, pushing against the “growth first” crowd.

It is undeniably true that a lot of Central Government macro policies are difficult to implement because of federalism issues. Even when Beijing calls for smart investments, for example, you still get ridiculous fixed asset investment at local levels that exacerbate the overcapacity problem in certain industries.

As usual, this subject is a lot more complicated than it seems. I wish I knew more about what is going on behind the scenes.

]]> By: Dennis http://www.chinahearsay.com/the-best-way-to-write-a-how-many-millionaires-are-there-in-china-story/comment-page-1/#comment-75519 Dennis Mon, 23 Nov 2009 21:45:25 +0000 http://www.chinahearsay.com/?p=4311#comment-75519 Hi Stan, "I’m a big supporter of the theoretical rebalancing of the Chinese economy as put forward by Hu Jintao and Wen Jiabao." on your end of the screen, is there even a hint that these policies are being pursued? It seems like China has made a conscious choice to prop up an export oriented economy instead of spreading the wealth. More aluminum plants, more consolidation of coal under SOE control, etc. Hi Stan,

“I’m a big supporter of the theoretical rebalancing of the Chinese economy as put forward by Hu Jintao and Wen Jiabao.”

on your end of the screen, is there even a hint that these policies are being pursued? It seems like China has made a conscious choice to prop up an export oriented economy instead of spreading the wealth. More aluminum plants, more consolidation of coal under SOE control, etc.

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