Two Powder Kegs Ready to Blow: China & India

Thursday, January 23, 2014
By Paul Martin

CHARLES HUGH SMITH
CharlesHughsmith.blogspot.com
WEDNESDAY, JANUARY 22, 2014

China and India are both powder kegs awaiting a spark for the same reason: systemic corruption.

The conventional view of China and India sports not one but two pair of rose-colored glasses: Chindia (even the portmanteau word is chirpy) is the world’s engine of growth, and this rapid economic growth is chipping away at structural political and social problems.

Nice, especially from a distance. But on the ground, China and India (not Chindia–there is no such entity) are both powder kegs awaiting a spark for the same reason: systemic corruption in every nook and cranny of both nations. The conventional rose-colored view is that corruption will inevitably decline with modernization and economic growth.

This is simply wrong on multiple levels: as the opportunities for crony/neofeudal skimming increase, so does corruption. As the scale of the economy increases, so does the scale of corruption.

The Rest…HERE

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