I’m still in China, as part of a week-long teaching assignment about markets, entrepreneurship, economics, and fiscal policy at Northeastern University in Shenyang.
One point that I’ve tried to get across to the students is that China should not copy the United States. Or France, Japan, or Sweden. 
To be more specific, I warn them that China won’t become rich if it copies the economic policies that those nations have today.
Instead, I tell them that China should copy the economic policies – very small government, trivial or nonexistent income taxes, very modest regulation – that existed in those nations back in the 1800s and early 1900s. That’s when America and other western countries made the transition from agricultural poverty to industrial prosperity.
In other words, pay attention to the polices that actually produced prosperity, not the policies that happen to be in place in 2016. With this in…
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Utopia, you are standing in it! 
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