"The way that the economy has developed over the past generation is actually gone contrary to a lot of the existing economic models. The Simon Kuznetz phenomenon says it's not just globalization, it's economic growth. As the country is modernizing, as it's growing economically, it does lead to an increase in inequality. When you reach a certain level of income, the inequality starts to decrease. That was the experience in Europe, in the 19th and 20th century, that was the case in the United States and so forth.
"Are democracy and capitalism compatible? Or, to put it differently: What made democracy and capitalism compatible for decades, even centuries, and what strains this relationship today? The end of the Cold War seemed to settle longstanding debates about the political and economic institutions best able to achieve freedom and security. But a few decades have passed, and our institutions now seem brittle. Longstanding critiques of capitalism are being dusted off and repackaged," writes Didi Kuo in Democracy Journal.
While Americans may be well acquainted with China’s quest for influence through the projection of power in the diplomatic, economic, and military spheres, they are less aware of the various ways in which Beijing has more recently been exerting cultural and informational influence. According to a new report, some of these ways challenge and even undermine our democratic processes, norms, and institutions.