Talk: How the West Created and China Survived the Global Financial Crisis
During the talk, Mr. Leo F. Goodstadt compared the situations in financial institutions in the West and in China and looked at differences in both the reporting and understanding of the facts and issues involved.
He discussed the difficulties journalists face when they are up against editors keen to publish ‘fashionable financial journalism’. The examples he used of this were of the reluctance of editors to take any view other than that state intervention is bad and that tight regulation cripples markets.
He also talked about the popular view that China is the model of the future and will rescue the world, a claim consistently denied by those in authority in China, who see the weaknesses in their system.
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