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China Leaves Krugman, Friedman Out On A Limb

Walter Russell Mead:

In particular the report calls for a shift away from large state owned enterprises to private firms if the economy is to continue to grow.

This will come as a profound shock to so many in the developing world and even in the US who think that the Chinese have discovered a sustainable alternative to market capitalism.

Apparently, all those grad students they send over here have seen the future, and it works. Even better than all that new infrastructure Obama was raving about in 2008.

Posted in Economics, Foreign Policy.

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