So you want to go for a hike on Mount Hua?
I live several hours southeast of that place and a few expats have told me it is worth the trip. I kind of like the lowlands for now.
Was reminded of it by a recent post from Michael Barnett.
March 13, 2009
Real men don’t use harnesses
Point – counterpoint
Between academics: a bull and a bear… on China.
It is long, but both sides each have some interesting points.
My own thoughts: Pei scored some good points regarding the entrenchment of inefficient SOEs that focus on “seen” projects, however his solutions mire his overall thesis. Specifically, the call for progressive taxation on capital gains. If the PRC were to implement a capital gains tax there would potentially be a flight of private capital out of the country — the last thing that any country wants. Why would anyone promote a policy like this during a “credit crisis”?
See also: Capitalism with Chinese Characteristics