China

[Schtank]

What do you guy's make of China's rapid economic growth of recent years? Even though it still seems to be predominantly communist/fascist, China is still catching up to the US in terms of gross GNP and it's economy is growing at a rate of 7% (at least according to my economic professor, I haven't checked these facts myself, but I'm assuming they're correct, and even if they aren't, it does seem that China is catching up to the United States). So my question is, why is the predominantly facsist China catching up to the predominantly United States?

Thanks

[aequalsa]

What do you guy's make of China's rapid economic growth of recent years? Even though it still seems to be predominantly communist/fascist, China is still catching up to the US in terms of gross GNP and it's economy is growing at a rate of 7% (at least according to my economic professor, I haven't checked these facts myself, but I'm assuming they're correct, and even if they aren't, it does seem that China is catching up to the United States). So my question is, why is the predominantly facsist China catching up to the predominantly United States?

Thanks

http://en.wikipedia.org/wiki/Free_trade_zone

[Rockefeller]

So my question is, why is the predominantly facsist China catching up to the predominantly United States?

If GNP growth is what you are comparing, then Bhutan - which just by virtue of turning from an absolute monarchy to a slightly lesser evil form - is ranking on top with 21.4% growth (list). Similarly, the recent growth in India and China is due to the lifting on restrictions on small manufacturing businesses, imports and foreign investment. China's government may be exerting more economic controls than US on it's economy but it's the small change in right direction that caused the growth.

What you may want to compare is the actual GNP, although even that is not an ideal statistic to illustrate effects of the controls by government.