Liberty Discussion on “Why China is Growing so Fast”
Liberty Discussion is a program designed to engage and inform the core members on the ideas of market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through open market perspective. Article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Bikalpa – an Alternative on every alternative Saturday (twice a month).
On 4 August 2018, the members of Liberty Discussion Group sat down at Bikalpa Office to discuss the article, Why China is Growing so Fast.
The discussion was on why china is growing so fast? The participant put different thought regarding the Article. Discussion started with looking in the political and economic freedom. Some participant stated that though there is not political freedom in china but there is economic freedom. One of the reasons why china is growing is it has opened it economy to the world. The economic reforms which china did in 1978 is the main reason for its growth. While on the same note other participant opined that capital is important factor for the economy. The capital flow should be used in productive sector of economy. Therefore, the focus should be on improving the economy of the country through opening the market. In addition to this participant added in order flourish the economy the country should focus in its comparative advantage. The government should have strong rule of law and there should be business friendly environment for entrepreneur.
However, during the conversation some other participant argued that in order to have economic growth there should be strong rule of law and environment for trade and entrepreneurship. There are also many flaws in our economic policy which is hindering the economic growth. It is economic freedom that causes prosperity in country but in Nepal it lacks. Our economic policies are focus on redistribution of wealth by taxing the rich rather than expanding the cake by empowering poor with economic freedom. Hence, Government policies should focus to create the wealth then only poor will be getting out of poverty in a sustainable manner.