Does China Have a Short-Sightedness Problem?

July 30, 2007 -- In a recent article, BusinessWeek took an interesting look at the intimate relationship between the economic miracle happening in China and its recent, highly publicized problems. The writers charge that China has adopted a policy of growth at any cost, seeking short-term increases that will undercut long-term expansion. China’s bureaucracy still runs the country. It can be highly effective on showplace projects, but seems ineffective against problems with food and drug safety. Will these problems cause China’s financial ascendancy to plateau, keeping China from becoming an economic powerhouse?

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