Week 4 Response 1 - of skills and infrastructure rather...

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1 Cao Anthony Cao ASIAN 366 01/23/12 Week 4 Response 1 China’s economic success has been a byproduct of “parallel partial progression”. This term refers to the process by which reforms and other changes that stimulate growth all began at the same time and progressed simultaneously rather than in a sequential manner. However, this growth has not been evenly distributed, and many issues remain regarding the welfare of labor workers. These inequalities also span different regions. By opening up some regions and maintaining closed other closed regions, it has allowed for increased differences in development and wealth. Bramall goes on to elaborate about Rheinish versus Anglo-Saxon capitalism. Rheinish capitalism describes high wages and government regulation of specific sectors, such as banking. Anglo-Saxon capitalism, on the other hand, emphasizes “an unregulated financial sector, free trade, a minimal welfare state, and a nonselective industrial policy centered on the development
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Unformatted text preview: of skills and infrastructure rather than industry-specific subsidies” (442). I found Bramall’s arguments quite interesting. His assertions regarding the efficacy of xiaokang som from an economic standpoint seem unconventional, but well researched. However, the content of his arguments fails to address some of the stronger points of Anglo-Saxon capitalism. Though his arguments for xiaokang som seem well structured, Bramall fails to fully explain how one policy results in its following outcome. For example, he blames the stagnation of wages in China on its transition toward Anglo-Saxon capitalism, and that xiaokang som would have helped to prevent this from occurring. There does not appear to be enough evidence in his arguments to substantiate these claims. For macroeconomic issues, there are 2 many factors that could influence a country’s economy. His arguments seem to over-simply every negative outcome into a matter of choice in capitalist policy....
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This note was uploaded on 01/31/2012 for the course ASIAN 366 taught by Professor Brown during the Fall '12 term at University of Michigan.

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Week 4 Response 1 - of skills and infrastructure rather...

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