Not so long ago, Chinas politics appeared an economic virtue, including for many in the Australian business community. There were even strong hints of China-envy in the air, the idea that authoritarian leaders could simply identify problems and fix them. No need to deal with interest groups, sceptical media, economically illiterate population or an obstructionist Senate. They were left alone to be technocrats and economic engineers par excellence.
That was the myth that played into Beijings hands. And only recently has it become obvious that a bit of technical tinkering here, and heavy-handed regulation there will no longer fix the countrys economic problems. It is now not just about the true economic growth rate in China, which is …
Read the full article at: http://www.businessspectator.com.au/article/2016/1/15/china/myth-behind-china-bubble