Quote:
Originally posted by Sidd Finch
To quote you, you can't judge these things by hindsight. Are you really attributing Chile's affluence to Pinochet's murderous policies?
Which is more affluent -- China or India? If you could replace the governing system of one with the other, which would you pick?
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China is more affluent. You know why? India is a socialist country and China is not. India had a higher standard of living than China until China changed from being a socialist dictator to being a free market dictatorship. India has had one of the most controlled economies since the end of WW II. They experimented a little with liberalization in 1992 (when the current Prime Minister was the Finance Minister) and for the first time they had some economic growth. But of course, it was decided the benefits were only going to the rich, so they stopped the reforms. China, while under a communist dictatorship had unbelievable poverty, turned to economic reform in the 1980s. It worked and ever since they have been opening up their economy more and more. The economy is much freerer now than the Indian economy and consequently they have a higher growth rate than Inda. China's per capita income also surpassed India's in the 1990s. China will eventually become a democracy, and in the end, its democracy will be more stable because of its affluence.
