The Red Corner needs more “Green”
Posted : October 26, 2005 at 11:55 am [America/Los_Angeles]
Not only is China not a communist country anymore, but it may also now be the world’s most capitalist country in terms of raw energy. Indeed, I believe history will record that it was Chinese capitalism that put an end to European socialism. Europe can no longer sustain its 35-hour workweeks and lavish welfare states because of the rising competition from low-wage, high-aspiration China, as well as from India and Eastern Europe. But can anything stop Chinese capitalism? Yes, Chinese capitalism. Other than political breakdown, the biggest threat to China’s growth is now the environment. One Sam’s Club, part of Wal-Mart, in the Chinese city of Shenzhen sold 1,100 air-conditioners in one hot weekend last year. There is a limit to how long you can do that.
— Thomas Friedman, “Living Hand to Mouth”
I know there is a lesson in here for India as well. I can only hope and pray that folks in India are tuned in.
- Anand
Category: Chindia