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Reading Summary - Pros and Cons of State Capitalism.docx

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Department
Geography
Course
Geography 3422A/B
Professor
Milford Green
Semester
Winter

Description
Pros and Cons of State Capitalism 4/7/2013 2:21:00 PM Pros and Cons of State Capitalism  State capitalists like to set China's recent successes against America's mounting failures  A balanced assessment of state capitalism has to allow for three warnings o First – there is no clear dividing line between state-owned and private companies  “Private” champions such as Huawei, the telecoms giant, have repeatedly been given government help – makes it hard to produce precise calculations about the productivity of the two sectors o Second – ownership isn't the only problem  Some of the problems, and successes, of state capitalism have more to do with rapid development than with state ownership o Third – everything depends on context  Its quite possible for state capitalism to work well in some areas (infrastructure) and badly in others (consumer goods)  Its also possible for it to boost growth at one stage of development and impede it at another  Advantages: o State capitalism's most obvious achievements are in infrastructure  China has produced a large number of world infrastructure records – largest hydroelectric project (the Three Gorges dam) a
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