BOOK: The Mystery of Capital

From: Robert J. Bradbury (
Date: Fri Oct 19 2001 - 10:19:05 MDT

J. R. Molloy said:

> How 'bout China? Not taking off? What do you want... everything at Wal
> Mart is made in China.

PBS had a special on last night about the China-Taiwan problem
and the Two China (City/Rural) economic divide. Apparently the
rural population (~1 billion) is still living at the 3rd world
poverty level (or perhaps slightly above) while the cities are where
the impact of influx of foreign investment and the benefits of
the return of Hong Kong are being felt.

Because it is illegal for rural people to migrate into the cities
they remain unable to climb the economic ladder even if they have
the skills and/or drive to do so. There is also a huge corruption
problem that as the government factories are privatized they are
ending up in the hands of former government officials and/or
their relatives. Its the same thing that happened in Russia
all over again, just at a slower pace.


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