another good piece
Another good piece. Rather lengthy.
I thought this was interesting:
"Yet China’s stunning advances conceal deeper problems. The elite is becoming a self-perpetuating and self-serving clique. The 50 richest members of the China’s National People’s Congress are collectively worth $94.7 billion—60 times as much as the 50 richest members of America’s Congress. China’s growth rate has slowed from 10% to below 8% and is expected to fall further—an enormous challenge for a regime whose legitimacy depends on its ability to deliver consistent growth."
Kind of inefficient though, don't you think? Why waste your time in The Congress when you can just buy several members relatively cheaply? A superior feature of our system, for sure.