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Chinese Crisis: Learning Lessons in Slow Riding the Economy, by K. N. Harilal, Professor, Centre for Development Studies, Trivandrum, Kerala (IN)
After an unbelievably long period of hectic growth the Chinese economy has begun to slow down. While the high growth phase was characterised by remarkable stability, the phase of slower growth, if the present crisis is any indication, is likely to be more turbulent. Slow riding an economy is much more difficult a task than managing it when the going is good. The slower the pace, the higher the risk of gravity overturning the apple cart. The big question, therefore, is whether the Chinese have done their homework for slow riding the economy.
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