This is the fifth video from an interview by Benny Sutton:
It’s less analytic than my usual effort–I don’t have the data to be an “expert” on China, and I doubt that I’d trust the data all that much even if I did have it. But I reflect on what could happen to Australia if China’s current boom proves to be driven by poorly directed credit, and discuss China’s very deliberate and successful program of industrialization in the last 3 decades, where predominantly US corporations were encouraged to relocate technology and production to China. The Chinese ensured that there was the development of a viable capitalist class, as well as a growth in employment–unlike many other developing nations following export-oriented industrialization strategies–by requiring foreign ventures to have a local partner, and transferring a large slab of the ownership to that partner over time.
