You Know What?

They may be right.

From The People's Daily:

The quenching of the developed countries'growth by the bout of the Great Recession has driven more Western thinkers and political analysts to look eastwards at China. Some have coined the phrase "Beijing consensus" or "China model", and more are studying the phenomenon of the country's political skeleton versus its monumental rise.

The way the decision-makers in Beijing chewed the possibly decimating impact of the global financial crisis and swiftly meted out a massive stimulus plan in late 2008, raised the eyebrows of many. The funds were rushed to high-speed railways, inter-province expressways and tens of thousands of infrastructure projects right away, without hitting the walls of parliamentary obstruction.

It has worked out wonders: the country's economy expanded by 8.8 percent last year. It outgrew Germany as the top exporter and the United States as the largest auto consumer in 2009.And, even before some Western economic gurus warned it of bubbling asset prices, China's central bank had started to fine-tune it by twice raising the reserve requirement ratio of banks, aimed at reining in credit and preventing inflationary bubbles.

Are Chinese getting smarter these days? Not exactly! It has nurtured a system that is tested and proved to be fairly functioning and efficient. The result is not as rowdy and contesting -- even predatory -- as we have seen in some Western democracies. The way one political party tries to sit at the throat of another by obstructing and killing every legislative move proposed by the politicians in power regardless of its merits, is just outrageous, if not preposterous.

Take the United States for an instance. More than 16 months has passed since the eruption of the crisis, the country hasn't come out with a repair plan to fix the holes of its financial regulation, because legislative lines submitted by the Obama administration to scrutinize credit default swaps and other dubious financial instruments, and protect individual consumers, are being held back by partisan lawmakers and bank lobbyists.

http://english.people.com.cn/90002/96743/6908714.html