Correcting the record on China's economy
Beijing likes to trumpet its economic clout. And as the second largest economy in the world there's no denying its power and influence. But the Chinese economy is a "black box" according to noted historian, Frank Dikötter, which even senior Chinese officials don't fully understand. It's an economic cauldron powered by massive debt, political spin and ideological dogma – a unique fusion of ersatz capitalism and rigid central planning. And unless we in the West get a better understanding of its complexity, global future prosperity is far from assured.
Future Tense · Australian Broadcasting Corporation
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Show Notes
Beijing likes to trumpet its economic clout. And as the second largest economy in the world there's no denying its power and influence. But the Chinese economy is a "black box" according to noted historian, Frank Dikötter, which even senior Chinese officials don't fully understand. It's an economic cauldron powered by massive debt, political spin and ideological dogma – a unique fusion of ersatz capitalism and rigid central planning. And unless we in the West get a better understanding of its complexity, global future prosperity is far from assured.