Business Standard

Liberal democracy vs state-directed capitalism: Is China winning?

China's model, which has brought more people out of poverty faster than any other system in history, continues to flourish

China, Xi Jingping
Premium

Illustration by Binay Sinha

Steven Rattner | NYT
President Trump’s attacks on Chinese trade practices may be garnering the headlines, but underpinning that dispute lies a more consequential struggle, between liberal democracy and state-directed capitalism.

Of late, it’s a competition in which the Chinese approach has been delivering the more robust economic result. Indeed, implicit in the ferocity of the Trump administration’s attacks on China’s protectionism is the success of that nation’s economy.

Skeptics notwithstanding, China’s model, which has brought more people out of poverty faster than any other system in history, continues to flourish, as I’ve seen firsthand in a decade of regular visits. Meanwhile, liberal democracy — the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 28 2018 | 12:52 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com