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Friday, May 21, 2010

Random Thoughts on China

Just a couple of thoughts before I head to the airport for the long flight home. Someone once told me that China is an interesting mix of the very old and the very new -- there's very little in the middle. And that does seem to be true. It is due to the abrupt transition that has been made, most places do not develop so rapidly and hence have middle-aged parts, not just old and new, and the pace of the transition shows. There are inevitable growing pains associated with development that is this rapid.

My casual observation both from all the government presentations on the economy I heard from various government ministers over the last two days and from walking around is that the economic development mirrors this pattern that. There is the new and efficient, and there are the old ways of doing things that are much less modern and much less efficient. There's very little in the middle. As I said on a tweet yesterday while strolling around, although growth of output has been high, it seems to me that there are still many, many people playing "small ball" economically, and hence there is still quite a bit or room for productivity to increase.

Anyway, glad I had the opportunity to come here and see what is happening first hand, particularly the ability to hear from and talk to people from the agencies in charge of economic development (though most of them were involved in one way or another with job creation and development, so I didn't hear all about all the issues they face). I am in the heart of Beijing, fairly close to the Forbidden City -- you don't see many cranes, etc. constructing new buildings since this area is already pretty densely developed -- so I may not have gotten a very good sense of the old-new balance (even so, there is lots of construction in evidence, mostly old buildings being gutted or raised to make room for something else). All in all, it's a pretty interesting place. I saw no signs of anything but full spreed ahead,

Looks like the next conference is Budapest in June. That will be interesting too. If someone had told me that starting a blog would lead to world travel on other people's dimes, I would have laughed. But it has. And all I can say is huh. Cool. Didn't expect that.

I am not looking forward to getting to the airport 2 hours early, my 12 hour flight, 6 hour layover in SF, and then the 1 hour flight to Eugene (and on the way here, one plane was delayed an extra three hours). But clicking my heels together and wishing I was back in Kansas (OK, Oregon) won't get it done, so I guess I don't have much choice. So I'd better get going -- maybe I can connect at the airport. If not, and I'm pretty much out of the international data plan I got before coming, no more internet until SF. I hope I don't get tremors from the withdrawal (I have two posts that I set before I left to publish later tonight).

Apologies for writing so little the last several days. The opportunity cost was giving up the chance to use the few free hours I had to see (a little bit of) Bejing, and I decided MU/P was higher for sight-seeing than for most anything else. But Tim Duy did a pretty good job picking up the slack, so I owe him a thanks.

    Posted by on Friday, May 21, 2010 at 07:38 PM in China, Economics | Permalink  Comments (31)


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