The chinese don 't want shock therapy which has proven to be all shock, and no therapy, says Cheng Li, a senior fellow at the brookings nstitute The genius of deng is that when he put china on the path to a market economy 30 years ago, he knew the country needed a stable political system. Whatever our system is, it is suitable for china
• The Chinese don't want shock therapy, which has proven to be all shock, and no therapy," says Cheng Li, a senior fellow at the Brookings Institute. • The genius of Deng is that when he put China on the path to a market economy 30 years ago, he knew the country needed a stable political system. Whatever our system is, it is suitable for China." 16
Thirty years ago there were 963 million people in China, and 30 percent of them were hungry Today there are 1.3 billion and 97 percent of them have a full stomach but the step up to the middle class is harder Chinas successful use of command capitalism also carries, at most, limited lessons for the United States or Europe. Still, the fact that an increasingly rich China still works so well is worth studying not least because the credit crisis is provoking a wider questioning of free market orthodoxy
• Thirty years ago, there were 963 million people in China, and 30 percent of them were hungry. Today, there are 1.3 billion, and 97 percent of them have a full stomach, but the step up to the middle class is harder. • China's successful use of command capitalism also carries, at most, limited lessons for the United States or Europe. Still, the fact that an increasingly rich China still works so well is worth studying, not least because the credit crisis is provoking a wider questioning of freemarket orthodoxy. 17
It is worth remembering that China is the only major nation that is experiencing neither a credit crisis, nor a crisis of confidence notes Rothman its still safe to say that nobody worries about the chinese government's ability to get things done. As Wen Jiabao has said,"contidence is worth more than gold "and the chinese people still believe in their system
• "It is worth remembering that China is the only major nation that is experiencing neither a credit crisis, nor a crisis of confidence," notes Rothman. "Its still safe to say that nobody worries about the Chinese government's ability to get things done." As Wen Jiabao has said, "confidence is worth more than gold," and the Chinese people still believe in their system. 18
Questions: 1. how does the author view the chinese economy 2. According to the author, why can the Chinese economy perform so well? 3. What is" shock therapy'"?
Questions: • 1. How does the author view the Chinese economy? • 2. According to the author, why can the Chinese economy perform so well? • 3.What is “shock therapy”? 19
Translation Turn to Page 15 of the book and translate the passage into Chinese. New words. 1. Flood 2, decade 3. infrastructure 4 determination 5 quintuple 6. crumble 7. postsecondary 8. millennium 9. Pop 10. prerogative 11. rescue 12 sputter
Translation • Turn to Page 15 of the book and translate the passage into Chinese. • New Words: 1.Flood 2. decade 3. infrastructure 4. determination 5. quintuple 6. crumble 7. postsecondary 8. millennium 9. Pop 10. prerogative 11. rescue 12. sputter 20