I hate to steal thunder from my earlier post today (Bringing real democracy to world's rural peoples) but Pundita's favorite WOM has done it again. Eric Miller gave a speech on China at his 55th college reunion.
No the 55 is not a typo; when I put Eric Miller in the category of Wise Old Men of Wall Street, I am being precise. And realize that before he hooked up with Tom Brown's outfit, Mr Miller was the Chief Investment Strategist of Donaldson, Lufkin, & Jenrette.
When Mr Miller decides to summarize matters, he doesn't clown around. His speech is a summary of other summaries he's done recently on China. So this is the distillation of analyses done by a cautious, seasoned investor. It's also got additional facts you might want to keep in mind; e.g. China has 100 cities with a population of over a million, whereas the US has nine.
So if you've been looking for one reliable jargon-free, chart-free economic report on China that's purged of political bias, this is the one to print out and keep in your country binder for the next three months:
The Looming New Superpower.
I hope this additional reading chore for today doesn't bump Pundita's essay; please find time to read it. How to make democracy work for the vast majority of the world's poorest is a very important issue -- one that directly connects with China's rise not to mention the Bush Democracy Doctrine and GWOT.