Here Comes China

• Even in 2005 it was clear how China was becoming the manufacturing hub for the world. They had also started sending 50,000 students to study in the US each year. China didn’t take off until Mao Zedong’s intolerant form on communism was scrapped in favor of totalitarian laissez-faire. In 2005 Beijing was adding over 1,000 cars a day, China was the 2nd leading oil importer, and 16 of the world’s 20 most polluted cities were in China. Any country that wants to compete needs to make it easy to start a business. This includes making it easy to hire and fire people, enforce contracts, get credit, and go bankrupt. Some countries do make it easy (Australia, Denmark, Tunisia, Austria, Canada, and The UK) while others make if very hard (Indonesia, Panama, UAE, Ethiopia, and India).

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