The twin pillars of Chinese growth

This comes from an article by the former Irish PM, John Bruton.  Ostensibly, it is a piece about how the middle class in China is growing, and while that is obviously true, the article actually points to (without acknowledging) the conditions for the end of that trajectory.  Which is odd.

Anyway, the bit I wanted to quote was this, which is offered almost as an aside:

Since 2010, there has been a huge surge in outward investment from China in the rest of the world, jumping from €6.1 billion to €27 billion in just three years. This investment is going into buying high-tech companies — those with globally-known brands — and tourist resorts. Just as China’s export drive enabled it to not only gain income but also to increase market knowledge, this wave of investment is also designed to strengthen Beijing’s global competitiveness and sophistication.

What a choice of investments for a country looking to assert its global competitiveness: high-tech and tourist resorts.

Categories: China, equality

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