‘China model’ fallacies

ECONOMIC discourse in this country, especi­al­­ly with folks in governance circles, can throw up some very interesting — as well as disturbing — insights. A recent conversation brought up the int­e­­resting case of a preference for the ‘China model’. What is their conception of this model? Briefly, the belief is in an all-powerful centre that forces its economic commands through long-term plans across the entire country, whips up economic growth through major government interventions, and leaves a limited role for the lower tiers (local) of governance. It is worth contemplating whether these…