China had an early rebound out of the recent great depression. This and the recession itself gave rise to an extensive global dialogue on how to get back on track: from the need to limit personal greed and implement effective oversight to the role of market interventions by governments. This response is much needed. There is a more broader question related to how we achieve a balanced and sustainable global and European growth? For that we should look beyond the current crisis.
China consistently outperforms the economic growth of US and Europe for three decades now. China has become one of the largest growth engines of the world. Although we may not beat the sheer size of China, I would like to argue that if we have the courage to adapt our European model of liberal capitalism to include some of the ‘Chinese characteristics’ we may set ourselves on a new growth path.
To read the full, original article click on this link: Should Europe follow into China’s foot steps - New Europe
Author: Annette Nijs Economist,Executive Director at the Global Initiative China Europe International Business School.
