Autocracy, China, China’s crony capitalism, Chinese Bureaucracy, Chinese economy, Chinese economy slowdown, Minxin Pei, myth of competent autocrats, policymakers, progressive degeneration of talent, reading
Democracies, even with their faults, are the preferred form of government. In spite of that China, a communist nation, has shown remarkable economic growth. The backbone of such a growth was great reform by two Chinese premiers Zhao Ziyang and Zhu Rongji – as this article puts it. The article goes on to discuss when opaque autocratic rule is useful and when (in today’s times) it is not. The assumption behind good growth was good policymakers in the government. Is China facing a drought of such policymakers? If the policymaking politicians are more interested in personal political gains rather than working towards economic efficiency, the country can go for a toss. Also, with more opportunities in the private sector, why would talented individuals choose to work under a humiliating and autocratic government?