China set to become the largest world economy (Prof Woo Wing Thye spoke on “China’s Return to the World Stage” on June 25, 2010)
“China has experienced annual growth of 10% in its gross domestic product (GDP) over the last 30 years, and is now standing at the front gate of the rich and powerful clubhouse. Will China’s strong economic growth allow it to successfully reach the rich man’s club? And will China behave responsibly after it enters the clubhouse?”
“Any hardware failures in the banking or financial sector are issues that the Chinese government is most confident of fixing. China can look to Japan and South Korea’s experiences and replicate these with adaptations. However China’s governance software is flawed, with people increasingly dissatisfied with administrative performance leading to a jump in social unrest.
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