![]() The beacon offered by China has been widely interpreted, especially by African elites, as demonstrating the benefits of autocracy.įor anyone remotely interested in these issues Why Nations Fail is a must-read. It has lifted millions out of penury and the country is projected soon to topple America from its position as the world’s largest economy. China’s growth is an economic phenomenon without precedent that has implications both for poverty and geopolitics. The last decade has appeared to offer a new and potent clue: the ascent of China, which is the other fundamental feature of our times. In the 1960s, the dominant explanation was that poor countries lacked capital by the 1980s, it was that they had poor economic policies. Often, the direction of search has been technocratic. Scholars have struggled for decades to find a convincing answer. ![]()
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