Policies of growth


Nadir El-edroos April 28, 2010

LONDON: This is with reference to your report “Policies of growth” (April 28). While China and India do stand out as exceptions, their sheer market size makes them irresistible to foreign capital inflows. A smaller economy adopting similar measures may not achieve the economies of scale required to cut costs and increase international competitiveness. China is a one-party Communist state where the government can manage and allocate resources to serve its best interests.

The massive disparity between the special economic zones and inner and western China is shocking. However, dissent is managed and information flows restricted. The environmental costs of China’s policies have only now become an issue of importance for the Communist Party. While there is disillusionment regarding the Washington Consensus (I for one am against it) the Indian or Chinese model is not a viable alternative. Indeed, neither are they similar to each other to begin with.

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