The key reason why China joined the World Trade Organisation and other trade agreements is to bring some semblance of law to an authoritarian country. 
Source: AEAweb: AEJ: Macro (6,2) p. 29 – Free Trade Agreements and the Consolidation of Democracy via Max Roser.
Both the elites and ordinary people are prospering tremendously from the rise of capitalism in China, Vietnam and other places. A move away from this liberalisation to a more authoritarian setting would cost too many people too much money.
In the course of these economic liberalisations, China and Vietnam, for example, changed from totalitarian dictatorships to tin-pot dictatorships. As long as you keep out of politics in these countries, there is a fair degree of freedom and much more freedom compared to the days of communism.
Percentage employed in agriculture in the world's major economies over the last 50 years. https://t.co/UbaDnaE8Lr—
Robert Wilson (@CountCarbon) January 08, 2016
Recent Comments