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| quote: | Originally posted by atbell
Nah, American dollars and know how are only part of what's bringing these countries to the fore.
They have each used thier own ideas, cultures, and beleifs to temper and addapt US failings. China has been particularily good at takeing a slow and cautious aproach to growth while advancing toward greater freedom. Studying thier foreign and domestic policy it is clear that the leadership has spent many years going over the problems Russia had after the fall of the wall and the problems the US has had with global resentment. The things they (the Chinese comunist party) learned are evident in thier control of the curency value, the slow privatization (to minimize the looting that happened in Russia), and the non-interventionist policy (which they clearly learned from US administrative hypocracy in foreign policy).
The internal factors that have contributed to thier growth are mostly present in thier regection of blindly accepting conversion to US based political and economic systems.
What we can expect in the future is to find out which new system works best. It's all evolution. The BRIC countries (that's the G+S term) are going to be building on the foundation that the US provided, which was built on the Western European foundation, which was built on the Roman, Greek, and Ottoman foundations, etc. etc.
I'm actually really excited to see where the new collision of ideas will go, especially in the theological / philosophical / political relms. |
on a percentage scale how much credit does america deserve for the extraordinary growth of these countries in the past few years? For china and india i would say its very high. With China in particular i would venture to say that US consumerism and direct foreign investment by US multinational (by way of joint ventures) has been the driving factor. I say China in particular because the foreign companies could not set up an operate in china without forming joint ventures with chinese firms. the joint ventures allowed chinese firms to copy our industrial practices and learn how to operate succesfully. It also prevented our firms from entering and dominating their market.
today, the particular problem with china is there is very little transparency in their financial markets. we are taking for their word without the regulatory structure we have here and in western europe. Even with our accounting standards fortune 500 companies still get over on western investors; could you imagine the accounting practices in china? the chinese banking system is going to run in to some serious bumps when investors finally demand transparency. as of now, investors have been content in receiving the tremendous growth without asking questions. that will end soon.
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