Elliott Parker
For the Nevada Appeal

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January 16, 2012
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Elliott Parker: China shouldn't follow our fiscal path

This is the second of two parts exploring China's economy.

As I explained last week, China's growth rates during the past couple of decades are staggeringly high. This growth can be largely explained by high investment rates, and also by the movement of workers from low-productivity to high-productivity activities, especially for the hundreds of millions of peasant farmers making less than $1 per day. Enabling this economic growth is one of the major objectives of the governing Chinese Communist Party, and China's exchange rate policy was an example of how this growth came first.

But a policy of keeping the …

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The Nevada Appeal Updated Jan 16, 2012 03:10PM Published Jan 16, 2012 03:07PM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.