One of the most influential factors in China’s growth has been largely ignored and underrated in the past decades’ growth: the “(very) private entrepreneurs.” These entrepreneurs have served as the backbone to China’s growth because they operate outside the control of the state-controlled companies and many of the country’s laws. Due to technical legality, these business owners operate with cutthroat competition without knowing what the future holds because the government could finally decide to no longer turn a blind eye to their operations and take them over. I found this article extremely interesting because I was under the impression that China had virtually no unregulated businesses; the article points out this ignorance as a potential fatality for the West.
--Jared Colton
3 comments:
Was this article about entrepreneurs doing big things like international business or was it more things like street vendors? I think there is a big difference in the way the two would affect the economy.
Dustin
I think this is an interesting argument because private companies don't usually make their financial information public, and I would think that it is difficult to estimate their impact on China's economy.
That is interesting to note, especially since it is a communist country. Maybe China isn't as bad off as we thought?
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