CHINA'S "ECONOMIC MIRACLE" | 2003-05-10
Every China expert is bragging about the Chinese economic growth rate. They present it as a miracle brought on by state socialism.
Germany had an economic miracle after World War II. From being totally destroyed by bombing, their economy was back on its feet in a little over a decade. The growth rate from 1945 to 1960 was phenomenal.
One reason the German growth rate after 1945 was phenomenal was that it was starting from near zero. This does not mean that total defeat in war is the recipe for economic well-being.
By the same token, the reason China has had an economic miracle is because it started from near zero. What caused them to stay at zero for two generations was Communism.
As the Communist absurdity has been rolled back, the economy has begun to feed its people. As the Communist absurdity was removed, some Chinese even began to get a few creature comforts.
As one of the few sane economics professors told me, "The best way for a doctor to get credit for a medical miracle is to find someone who is taking poison and get him off of it."
By the same token the easiest way to create an economic miracle is 1) to have a war and end it or 2) to have socialism and end it.
Communism is as good for an economy as being destroyed in wartime.
China's growth rate just shows what leftism can do to people. But no one is going to talk about that. They're too busy praising the Red Chinese government for its economic boom.