China surpasses Japan as the second biggest global economy----news. Is it a victory for socialism or the capitalistic ideas of late China adopted? Your views?
2)In fact, Chinas remarkable progress has been achieved partly due to two important factors (1) State subsidy for industry and (2) Deliberate attempt to keep its currency at lower rate without being allowed to appreciate it vis a vis dollar. Allow it to float freely and you would see the result. China would lose its competitive advantage vis a vis Japan and the rest of the world. Here, you can say that it is the side effect of socialism / controlled regime which is not good.
Strikes by tens of thousands worken men in the export oriented factories in Shenzhen,Foshan, Pearl River Delta etc etc which were fuelled by the suicides of about ten workers, throwing themselves off the rooftop of Foxconn's factory, calling for better pay, less demandinbg w ...more