Page A15: Fareed Zakaria, editor of NEWSWEEK Published an article about China:
"China scholar Minxin Pei argues that China was not an ideological conversion to free-market capitalism. Comment: Is Pei aware of market failures with externality as shown in the real world? Has he read the Theory of Convergence by the first Nobel Laureate in Economic Science in 1969? The definition of capitalism is also vague as per the judgment of the Dutch economist Jan Tinbergen. Cf.My previous blog for such citation in details.
Zakaria wrote: "Today, China commands respect across the globe... The country does not appear ready to play a global role."(sic) Comment:China is known to play a significant role in global economic recovery.
"If American politicians cannot muster the courage to make the US economy competitive again and China perceives that it is dealing with a superpower in inexorable decline, relations between China and America will change fundamentally.If that happens, America will have plenty else to worry about as well."
The above conclusion provides no specifics with regret. Such negative scenarios with regard to USA and China would mislead the readers at best. As a way to be positive, I have reason to believe that US and China need to cooperate and collaborate in Anti-Terrorism,Energy and Trade et al for the best interests of both nations in the global context for humanity in the 21st century.
Francis Shieh a.k.a. Xie Shihao, an octogenarian blogger and an avid reader on Monday, February 8,2010 at 9.18 a.m.
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