Wednesday, February 3, 2016
That old Mandate of Heaven thing. "Behind China's woes, myth of competent autocrats."
Like receding tides that expose naked swimmers, decelerating growth in the Middle Kingdom today reveals the incompetence of its economic policymakers -- and the deeper causes of managerial incompetence throughout the system. Among the systemic causes of bad policies, the most obvious culprit is the dominance of politicians in economic policymaking. While there is no shortage of capable technocrats inside the party-state, those who have the final say, from members of the Standing Committee of the Politburo all the way down to the humble county party chiefs, are typical politicians who are more influenced by considerations of their personal political gains than those of economic efficiency.