Thursday, December 03, 2009

21st Century Belongs to...?

I am back online. Indeed, there are two parallel universes. One for the common folks whose Internet connection has been cut from accessing all foreign blogs, so I am told, Facebook, Twitter and Lord knows what else. The other universe is where I am: a famous deluxe hotel of a famous global chain. From the privacy of my room, I don't see (yet) any Big Bro watching over me. I am assuming.

Just a note to say I have surfaced and will catch up with "outside" news soonish. Meanwhile, it remains amazing to a jaded visitor to this land of ancient history and modern myths to observe how vibrant, dynamic, can-do this former sleeping and very inefficient giant has become.

One very obvious reality is how youthful and entrepreneur this society has become. Granted this is the capital, yet regional accents are everywhere.

I see folks who would look like high schools kids managing businesses, starting a new business, walking about with a sense of self-confidence that to many American visitors remind them of what US of A once was.

China also proves once and for all FALSE what we all once learned in economic development 101: size matters. No, size does not matter.

China proves that growth is not limited by size. It is limited only by productivity. Professors used to say when a country "matures", productivity slows down.

Define " maturity "? Is the US "mature"?

Not to my eyes. US has become more like a second world country. More investments in the right areas would produce much higher growth than what it has taken for granted for years that its long term trend growth is roughly 4%.

More on this in future postings. I am just glad I am now "connected".

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