China's advice to the West

Today we have some frank advice for Western economies from a key advisor to China's central bank.

A decade or so ago the lectures on economic management went one way only - from the West to the East. But how times change. Now Asia - and particularly China - appears a model of steady, consistent economic policy and sustained growth, while America and Europe are mired in debt and slow growth.

And China is now prepared to do the hitherto unthinkable and offer America advice on how to run its economy. Earlier this month the Chinese appeared to endorse Standard and Poor's decision to downgrade the US' credit rating, describing the challenges facing the White House as "grave".

Now a key adviser to the Chinese Central Bank has gone even further, suggesting that America could learn a few lessons from Chinese experience.

The BBC's Beijing Correspondent Damian Gramaticus interviews Professor Li Daokui sits on the monetary policy committee of the People's Bank of China.

There is no question that China has an enviable record when it comes to the economy - 30 years of unbroken growth. But of course the Chinese boom is a unique phenomena. It represents the incredible release of human potential as the world's most populous country has brought much of its vast rural population into the urban workforce.

That unprecedented process of migration has had a dramatic impact on China's cities - as any visitor to China will know. Every one is surrounded by vast concrete housing complexes for the workers. As a result China's urban areas can seem soulless, impersonal places.

Yet, as Justin Rowlatt discovered when he visited one huge estate on the outskirts of Beijing, some residents have found ways to use electronic media to build thriving communities even in these apparently unpromising environments.

And finally - a marketing lesson for the business of comedy from one of the toughest markets on the the planet - the Edinburgh Fringe festival.

The Edinburgh Fringe is a tough place to get noticed as a few choice festival facts show: 21,192 performers will be taking part in 41,689 performances of 2,542 shows in a total of 258 venues.

So the question is how on earth do you get any one to come along to see yours? That's the marketing challenge facing Colm O'Regan, who has brought his own show to the festival.

Available now

18 minutes

Last on

Tue 23 Aug 2011 11:32 GMT

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