EconWatch.com > What Is China?

[Brad DeLong's Semi-Daily Journal] Many of China's policies including EPZs, capital controls, the undervalued Yuan, the propping up of US deficits, and now its investment in strategic industries such as petroleum are mercantilist in the extreme: designed to boost economic growth from the top down by favoring large corporations and their foreign partners. Little thought is given either to income distribution or to the welfare of Chinese consumers _overall_ (as opposed to those who are simply fortunate enough to work directly or indirectly for the export industries, ie in the major cities).

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