Unformatted text preview: and economic growth China is experiencing growth under extractive institutions- under authoritarian grip of the Communist party, which has been able to monopolize power and mobilize resources at a scale that has allowed for a burst of economic growth starting from a very low base Not sustainable beause it doesn’t foster degree of “creative destruction” that is so vital for innovation and higher incomes Sustained economic growth requires innovation American can only be a force multiplier (For countries its helping) Where you have grass-roots movements that want to build inclusive institutions, we can enhance them. But we can’t create or substitute for them....
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- Spring '09
- level playing field, Communist party, Core Point