Mar 012010
China has a new export: wisdom.
China does have a particularly unique way of operating a capitalist economy, and currently the Chinese economy is the darling of the world. Many attribute (at least partly) the recovery to swift fiscal and monetary actions by the Chinese authorities. The stimulus package China rammed through its economy makes the US stimulus package look like a tortoise on its back. Democracy has its advantages, but not when speed of government is required.
So now, while China is still an economic hero, the country has appointed its top banker to advise the IMF. The events of the past couple years has clearly placed China near the top of the global economic scale.
Source: China Daily
