China Is an Adolescent Superpower Unwilling to Mature – Globely News
China’s incredibly successful economic development brings two predicaments, one domestic and one foreign. Domestically, rapid development quickly makes the economy and society more complex. An agricultural economy with basic industries suddenly has thousands of interconnected industries, a complicated technology sector, and a highly differentiated services sector. A complex economy brings with it a complex society. People who were satisfied by having enough to eat now want different things. This complex economy is much more difficult to manage centrally and hierarchically.
Among all the Asian miracle economies, this emergence of social complexity leads inevitably to a crisis of success. Big government-supported companies get into financial difficulties. Government experiences a financial squeeze. Demonstrations of people affected by change rise. Businesses challenge government policies. Such crises happened in South Korea, Taiwan, and Japan in the 1980s. All three responded by…
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source: https://news.oneseocompany.com/2023/03/20/china-is-an-adolescent-superpower-unwilling-to-mature-globely-news_2023032042289.html
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