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**OvDojQXN** · 05-05-2009, 11:16 PM

China has announced that it will be recreating its social safety net. Dismantling it has proven a disaster.

Yeah, it's a fine line to walk between state subsidies that make industry less competitive (which China MUST eliminate, under its WTO obligations) vs. state subsidies that contribute to crucial social infrastructure (roads, education, health care, etc.). It's taken America and European nations a century or more of trial and error to come up with their current models. China's scrambling to get something workable up and running in a few decades before it really hits the fan.

05-05-2009, 11:16 PM	#11
OvDojQXN Join Date Oct 2005 Posts 457 Senior Member	China has announced that it will be recreating its social safety net. Dismantling it has proven a disaster. Yeah, it's a fine line to walk between state subsidies that make industry less competitive (which China MUST eliminate, under its WTO obligations) vs. state subsidies that contribute to crucial social infrastructure (roads, education, health care, etc.). It's taken America and European nations a century or more of trial and error to come up with their current models. China's scrambling to get something workable up and running in a few decades before it really hits the fan.
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