Bullish On Chinese Companies, Bearish On China...
China has been growing on extractive institutions. This has made her the second largest economy, but it won't make her the largest.
Why do countries differ in wealth?
Why is the United States a wealthy country and Mexico is not? Why did the Industrial Revolution happen in the United Kingdom and not Spain?
The answer to these questions is the exact reason why you shouldn’t expect the Chinese economy to develop like the US economy and even pass the US one day.
Though it seems simple and …