“China has enjoyed miraculous economic expansion for the last few decades.” Vox’s Nicole Narea wrote the latter for a piece in which she decried China’s lack of an economic plan. Narea might agree that she overcomplicated what isn’t.
Seriously, what’s so miraculous about China’s expansion “the last few decades”? As evidenced by how wildly prosperous the Chinese people are wherever they are relatively free around the world, there’s nothing surprising or miraculous at all about the country’s growth since the 1990s. It was then that the government largely got out of the way, only for very capable people to turn a country formerly most known for starvation (as John Lennon put it in 1980, “they’ve starving back in China, so finish what you got”) into the most prosperous non-U.S. market of all for a global symbol of capitalism and eating: McDonald’s.
Read Full Article »
