Grassroots Democracy in China?


I thought of sharing a very interesting development.

 I met with a senior Chinese government official on October 27, 2006. I was appraised that he had the U.S. Department of State leadership program. We discussed optimal regulation of banks and capital markets and optimal exchange rates for developing economies beyond purchase power parity. I presented him a copy of my book, "Prosperity: Optimal Governance, Banking, Capital Markets, Global Exchange Rate.

" What is interesting is that in my book (presented to the Chinese official on October 27, 2006) I also about optimality of democracy for China and then President Hu of China expresses a desire for grassroots democracy in China as per press report dated December 3, 2006! The relevant excerpts from my the press report dated December 3, 2006 are presented in the postscript. Are the Chinese leaders merely talking about democracy?

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