From Forbes India
There’s news of widespread corporate fraud among companies listed on overseas stock exchanges, even as the macroeconomic picture gets worrisome
It is dizzying how fast and how far the sentiments about China have changed. In the wake of the 2008 Great Recession, Western analysts then hailed Chinese response as daring, visionary and inspirational, especially when contrasted with the hesitancy of the US political establishment in tackling the multitude of its own economic challenges. This was to presage a dominant theme that was to emerge in the next two years in the Western media.
Prominent pundits from Thomas Friedman, Fareed Zakaria to Nicholas Kristof competed to heap praise on China. Their focus was typically on how fast China could roll out its infrastructure and its massive building programmes. Even President Obama held up the construction of China’s high-speed railway as a model to be emulated.
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Yasheng Huang is the International Program Professor in Chinese Economy and Business; Professor of Global Economics and Management; founder of China Lab and India Lab
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