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China's Economic Rise: Fact and Fiction

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asiequana Avatar
asiequana
Posts: 1
Posted: 08.31.11, 11:42 AM
Keidel is a China apologist and proudly wears it on his sleeve. The guy obviously will never say one thing negative about China. I cannot believe anyone in US policy circles even listens to him. Presumably he is of the kind that believes in superiority of technocracy, hence when it comes to China he's a kid in the candy store.

Keidel represents everything that is wrong with economists in ivory towers. He starts with a conclusion and builds his facts around what he wants to believe; reality be damned. It wouldn't be a problem when he stays in his little academic silo but it becomes an issue if he starts influencing policy.

Then again maybe he is actually a double agent. If he can get the Chinese policy makers to listen to him then US economic superiority remains secure.
kywsc2006 Avatar
kywsc2006
Posts: 1
Posted: 09.09.08, 06:55 PM
Re: China's Economic Rise: Fact and Fiction

The talk is good but the volumn of the voice is so so low. Please pay much attention to that otherwise the program will be meaningless. Thanks.
orwellee Avatar
orwellee
Posts: 1
Posted: 08.10.08, 07:26 AM
People are nowadays so easily getting unhealthily euphoric about China. As an ethnic Chinese and having lived on both sides of the Pacific in my 49 years of life I am able to tell you a lot of fundamental factors that I found people like Albert Keidel are not able to visualize and gain insight into. To me, the fact that he has been around with things of China’s and “working side by side with Chinese economists” does not actually warrant much for the kind of projections that he is willing to cast.
Just the year before Enron collapsed (2001), Alan Greenspan was happily receiving Enron’s Distinguished Public Service Award from the Mastermind of Enron’s defrauding schemes - Ken Lay (who himself has got a PhD in economics). That is, “seniority” class economist like Greenspan could not see what he needed to see from things like Enron. There are all sorts of economists – the good, the not-so-good,... etc.
The comment last posted by Maria, about "a New Chinese Century" is to me something really overblown. It’s not that I don’t want to see there to be a thing like this (for I am an ethnic Chinese who speak and read the Chinese language, so for sure I am not one of those China-bashing stereotype), I simply find euphoric projections of this kind unfounded. And, if you read Chinese you will be able to access a lot of things that you are not able to see if you do not have access to the language.
The first thing that put me off about Albert Keidel's projections is that he would be the first economist that I have ever seen to talk about a projection for the next 100 years. I have known none of any reputable economist who is under any circumstance willing to talk about things that's more distant than even ten year down the road. One of my old professors, who was a member of the Royal Swedish Academy and a committee member that awards the Nobel Prize in economics (and he also specializes in economic history, like Douglass North), would be very suspicious of the merit in anyone who will be inclined to make a projection for anything longer than even 15 years into the future.
For sure Stephen Voth's comments are to me much more plausible.
And I can tell you this; there are a lot of things going on now in China that resemble what was with Enron in the late 1990s. And, just to start with, China remain is now a place where auditing practices are nothing more than shambles. And judicial inefficacy is reassuring that the cookie-cutter kind of accounting practices as a norm in China will only go on. (this wording is borrowed from what Noble Prize economist Joseph Stiglitz had once dubbed that some economists in the international circles are perpetuating a “cookie-cutter” kind of economics)
What I see is that the essential issue of “information asymmetry” is totally ignored by those who painted a rosy picture for things that’s China.
antonio_maria Avatar
antonio_maria
Posts: 0
Posted: 07.27.08, 08:53 AM
The general trend in China's development is very clear and demanding for all of us. I think that we will have a New Chinese Century, not the one some other thaught would be the case...
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