Summers and landfritchets say China will slow down and grow at 4% if they're lucky. What's your take? My take is that China will be a great and successful country in the 21st century. The myth of the East Asian miracle, remember Krugman's article and so forth. They just got it wrong Time and again. And same with Asumoglu. It's the same story. So it can't happen. It's got to collapse. That's the story of our time. We don't like East Asia too much. I'm caricaturing just a little bit. And China's a bubble."
Tyler Cowen and Jeffrey Sachs discuss the resource curse, why Russia failed and Poland succeeded, charter cities, Sach's China optimism, JFK, Paul Rosenstein-Rodan, whether Africa will be able to overcome the middle income trap, Paul Krugman, Sach's favorite novel, premature deindustrialization, and how to reform graduate economics education.
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