China economy thesis

Second, would a slowdown, or even a massive financial meltdown lead to widespread disruption in Chinese society? The answer actually depends on how the effects of the slowdown are distributed throughout society. As Confucius pointed out long ago, Chinese people tend to get riled up more about inequality than scarcity(患均不患寡), which is just as true today. Most ordinary Chinese hate a high level of inequality, especially if such inequality is a result of corruption rather than legitimate hard work. While a severe crisis would lead to a massive loss of jobs and lower incomes, if the . economy survived the 2008 global financial crisis, there is no reason to believe the Chinese economy cannot overcome a similar one.

China economy thesis

china economy thesis

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