Monday, November 26, 2012

Freer Markets, Unfree Society

In the last 10 years, China’s citizens benefited from rapid growth with a sharp increase in their standard of living. GDP per-capita measured in purchasing power terms more than tripled from $2,800 in 2002 to a forecast $9,100 in 2012 according to the International Monetary Fund. That lifted China decisively out of the ranks of poor nations, and into the middle-income bracket.

But with few signs of democratization, China also defied expectations that rising wealth would lead to political reform.