THE government must drive employment like the Chinese who are the envy of the world.
Michael Barr in his book Who's Afraid of China? quotes journalist Sarah Lacy – who was in one of the Davos World Economic Forums – as saying that the recurring theme among the non-Chinese delegation was China's ability to "get things done".
She says: "A lot of Western business people are jealous of China's ability to get stuff done while leaders squabble over healthcare, play partisan games, live in perpetual election cycles, and waste time posturing." Does that sound familiar?
Disagreement on the proper role of the state has never ceased and likely never will. China has presented dramatic results with great confidence, Barr goes on to say.
State capitalism cannot consist of a few people. It does not, and must not, end with BEE that empowers the likes of Motsepe and Sexwale (billionaires overnight). So far, BEE has been created by the very people who control the economy and don't want to share the fat of the land but would rather have a few indigenous Africans act as fat cats to buffer them from criticism. They avoid the real issues of making the economy work for all.
These capitalists and industrialists must come to terms with the colonial and apartheid legacies that have favoured them. The Beijing Consensus, which refers to China's model, did not dilly-dally and I pray the National Development Plan does not.
The hallmarks are a commitment to innovation and constant experimentation, export-oriented growth, state control and investment in key industries and infrastructure projects, and financial self-determination. So I concur that the Reserve Bank must drop interest rates.
China's success in poverty reduction is said to be without precedent in human history. Here it is being tried at the expense of our own growth as a wannabe Brics member. This is not on.
Pat Kondile, New Brighton