Posts by John Ross
Why China’s social achievements are even greater than its economic ones
Attempts are sometimes made to claim that China’s…
Read MoreWhy the US not China threatens world peace
A concerted attempt is being made by the US to ra…
Read MoreA Copernican Revolution in Western economics & China’s supply side reform
Every 4th May is National Youth Day in China. In 2…
Read MoreBRICS are more important for world growth than the G7
The annual BRICS summit, hosted by China in Xiamen…
Read MoreThe limits of RMB internationalisation
The dollar’s domination of the international monetary system, and the ‘exorbitant privilege’ it gives the US, to use the phrase of leading US monetary economist Barry Eichengreen, is clear. But is it possible to break the dollar’s dominance?As China is the world’s leading rising economy, with an economy larger than the US in purchasing power parity (PPP)…
Read MoreWhy China has made the world’s greatest contribution to increasing human rights
The U.S. Congress has debated expressing its concern over the issue of ‘human rights’ in China – an example can be found in the US House of Representatives on 28 May 2014.This makes it appropriate to make a comparison of the real records of the U.S. and China on human rights.This is a vital issue as human…
Read MoreThe ‘Anglo-Saxon’ political crisis – from Reagan & Thatcher to Trump & Brexit
Every day the media reports deepening political destabilisation gripping both major ‘Anglo Saxon’ countries – the US and UK. Most important for the world, of course, is US political instability where almost daily crises hit the Trump administration – resignation of the President’s Chief of Staff, sacking of the head of the FBI, public attacks by…
Read MoreChina’s GDP data destroys ‘hard landing’ myth again
China’s latest economic dataChina’s recently-published second quarter 2017 GDP data showed solid growth in regard to all key indicators. Year-on-year:• GDP rose 6.9 percent;• Industrial value-added rose 7.6 percent;• Retail sales grew 11.0 percent;• Urban fixed asset investment rose 8.6 percent.This is a performance exceeding any major Western economy – American GDP growth for the…
Read MoreTo become a high income economy China needs to study facts not myths
Unfortunately some discussion in the media of how China can become a ‘high income’ economy fails to follow the fundamental Chinese saying ‘seek truth from facts.’ Instead it follows a method of ‘ignore the facts, focus on inaccurate dogma.’In particular, as usual, neo-liberals avoid dealing with the facts. They suggest that to avoid the ‘middle…
Read MoreWhy Adam Smith’s ‘classical theory’ correctly explained Asia’s growth
The growth of Asia’s rapidly developing economies is a vital practical issue for the living standards of billions of people and a decisive test of economic theory. This group of economies are the world’s most rapidly growing. They include the only major economies that have made the entire transition from ’low income developing’ to ‘developed‘…
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