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Development?

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The Economic Model is Defunct: We Need to Ditch It
by Andrew Simms in The Guardian

What is development? To many conventional economists it has been China, though not without irony. Its export-led development model and advantage in all economic sectors created its superpower status, and left it accounting for the vast majority of those lifted out of extre.me poverty globally. But there’s a problem with the model. “Beijing is not a liveable city,” said the city’s mayor, Wang Anshun, recently. The price of rapid industrialisation and urbanisation has been pollution: air not fit to breathe, and visitor numbers declining – a sort of anti-development. It’s a crisis echoed in India where recent research estimated pollution caused the collective loss of 2.1bn life years. Knowing it has a problem, India announced a plan to double coal taxes to pay for clean, renewable energy alternatives. In China premier Li Keqiang announced a lower economic growth target, a much harder line on environmental s…