China Does Capitalism Better Than America

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china-capitalism

Tuesday, March 13 2011

For all appearances, China has emerged unscathed from the global economic crisis, in stark contrast to its biggest debtor, America. China’s admirers point to its ability to mobilize state resources, quick decision-making and business-friendly environment as reasons for its economic ascendency. But can its brand of state-directed capitalism overcome rampant corruption and the threat of growing inequality, or will the American model of innovation and free markets prevail?

  • For the motion

    For

    Orville Schell

    Director of the Center on U.S.-China Relations at Asia Society & Award-Winning Journalist

  • For the motion

    For

    Peter Schiff

    CEO & Chief Global Strategist, Euro Pacific Capital

  • Against the Motion

    Against

    Minxin Pei

    Professor of Government at Claremont McKenna College & Author of China’s Trapped Transition

  • Against the motion

    Against

    Ian Bremmer

    Founder/President, Eurasia Group & Author, The J Curve and The Fat Tail

  • Moderator Image

    Moderator

    John Donvan

    Author and correspondent for ABC News.

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Schell

For The Motion

Orville Schell

Director of the Center on U.S.-China Relations at Asia Society & Award-Winning Journalist

The former professor and Dean at the University of California, Berkeley's Graduate School of Journalism, Orville Schell is the Arthur Ross Director of the Center on U.S.-China Relations at Asia Society in New York. The author of fourteen books, nine of them about China, Schell worked for the Ford Foundation in Indonesia, covered the war in Indochina as a journalist, and has traveled widely in China since the mid-70s. He is a Fellow at the Weatherhead East Asian Institute at Columbia University, a Senior Fellow at the Annenberg School of Communications at USC and a member of the Council on Foreign Relations. Schell was a Fellow at Columbia University's Graduate School of Journalism and the recipient of many prizes and fellowships, including a Guggenheim Fellowship, the Overseas Press Club Award, and the Harvard-Stanford Shorenstein Prize in Asian Journalism.

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Schiff

For The Motion

Peter Schiff

CEO & Chief Global Strategist, Euro Pacific Capital

Peter Schiff is CEO & Chief Global Strategist of Euro Pacific Capital. He accurately and publically predicted the bursting of the housing market and the subsequent collapse of the financial sector and the broader U.S. economy. A staple figure in the media, he appears frequently on CNBC, Fox Business, CNN, and Fox News. He is the author of several books, including the bestselling Crash Proof: How to Profit from the Coming Economic Collapse, and an upcoming book, The Real Crash: A Blueprint for a Bankrupt America. Schiff served as an economic advisor to Ron Paul in 2008 and in 2011, launched The Peter Schiff Show, a daily radio talk show.

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Bremmer

Against The Motion

Ian Bremmer

Founder/President, Eurasia Group & Author, The J Curve and The Fat Tail

Ian Bremmer is the founder and president of Eurasia Group, a leading global political risk research and consulting firm providing financial, corporate, and government clients with information and insight on how political developments move markets. Bremmer created Wall Street’s first global political risk index and has authored several books, including the national bestseller, The End of the Free Market, The J Curve and the upcoming, Every Nation for Itself. Bremmer is a contributor for the Financial Times A-List and Reuters.com, writes "The Call" blog on ForeignPolicy.com, and is a panelist for CNN International’s "Connect the World.” He has a Ph.D. in political science from Stanford University, and presently teaches at Columbia University.

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Minxin Pei

Against The Motion

Minxin Pei

Professor of Government at Claremont McKenna College & Author of China’s Trapped Transition

Minxin Pei is the Tom and Margot Pritzker '72 Professor of Government and the Director of the Keck Center for International and Strategic Studies. Formerly a Senior Associate and Director of the China Program at the Carnegie Endowment for International Peace, his research focuses on democratization in developing countries, economic reform and governance in China, and U.S.-China relations. He is the author of From Reform to Revolution: The Demise of Communism in China and the Soviet Union and China’s Trapped Transition: The Limits of Developmental Autocracy. Pei’s research has been published in Foreign Policy, Foreign Affairs, The National Interest, Modern China, China Quarterly, Journal of Democracy and many edited books. His op-eds have appeared in the Financial Times, The New York Times, The Washington Post, and other major newspapers. Dr. Pei received his MA and PhD in political science from Harvard University.

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Declared Winner: Against The Motion

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    4 comments

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    • Comment Link James Saturday, 29 March 2014 21:51 posted by James

      To David E.'s point:
      The originals except for Mesopotamia, Egypt, Greece, Rome, and others. Also, no ancient trade conditions could be called Capitalism, hence the relatively recent invention of the term.

    • Comment Link David E Tuesday, 02 April 2013 15:28 posted by David E

      The Chinese are the original capitalists,,,

      They have been engaged in trade and commerce for over 2000 years...

    • Comment Link Jim Harrold Friday, 24 August 2012 14:19 posted by Jim Harrold

      The reason Minxin Pei and Ian Bremmer carried this debate is because they were credible. On the contrary, Mr. Schell engaged in rants about religious ideologues in the United States, implying that these people are somehow a threat to capitalism. Mr. Schiif simply resorted to wearisome Libertarian sloganeering about American capitalism (the kind China supposedly now employs) as superior to the mixed public-private capitalism we reluctantly embrace today. Pre-1900 capitalism in America was marked by monetary reward for entrepreneurial risk-takers. It was also marked by disregard for the environment and exploitation of some workers. China's modern version of capitalism is similar. Mr. Pei had it right when he said we should not want to return to this version of capitalism in the United States. China is a revolution waiting to happen. If Mr. Schiff is blind to this, I would certainly counsel anyone against investing money with his firm.

    • Comment Link Richard Blackmore Wednesday, 01 August 2012 16:28 posted by Richard Blackmore

      The first speaker lost me at his comments on freedom, and in calling social security as a "ponzi scheme". Social Security for the most part is a pay as you go program. It was rhetoric, and the only point with merit in my view was the point on debit versus credit nations.

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