Commentary Magazine


Contentions

Two Real Alternative Models of Development

In the backlash against the Bush administration’s (first-term) pro-democracy agenda, a lot of critics have been singing the praises of “alternative” models of development. Exhibits A and B are usually Russia and China, which have been prospering of late without such pesky inconveniences as free elections and independent judges.

But we tend to forget two other major rising powers, India and Brazil, which are solid democracies and whose economies have been picking up steam lately. The Wall Street Journal has a useful article on Brazil’s economic resurgence. The country, according to reporter Matt Moffett, is seeing its “greatest burst of prosperity . . . in three decades.”

The article goes on to note:

Brazil has enough money lying around that Monday it announced it would follow other booming countries like China and Persian Gulf oil states in setting up a sovereign-wealth fund, worth between $10 billion and $20 billion, to invest its excess cash.

Much of this new-found growth is a tribute to Brazil’s nominally leftist president, Luiz Inacio Lula da Silva, who has put in place pro-business policies which are attracting foreign investment. India is seeing a similar growth spurt because its government also is abandoning the socialist nostrums of the past. Both Brazil and India have a long way to go, but in the long run, they’re a better bet than Russia or China, whose long-term futures are clouded by the existence of illiberal regimes run by parasitic elites.



Join the discussion…

Are you a subscriber? Log in to comment »

Not a subscriber? Join the discussion today, subscribe to Commentary »





Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor to our site, you are allowed 8 free articles this month.
This is your first of 8 free articles.

If you are already a digital subscriber, log in here »

Print subscriber? For free access to the website and iPad, register here »

To subscribe, click here to see our subscription offers »

Please note this is an advertisement skip this ad
Clearly, you have a passion for ideas.
Subscribe today for unlimited digital access to the publication that shapes the minds of the people who shape our world.
Get for just
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor, you are allowed 8 free articles.
This is your first article.
You have read of 8 free articles this month.
YOU HAVE READ 8 OF 8
FREE ARTICLES THIS MONTH.
for full access to
CommentaryMagazine.com
INCLUDES FULL ACCESS TO:
Digital subscriber?
Print subscriber? Get free access »
Call to subscribe: 1-800-829-6270
You can also subscribe
on your computer at
CommentaryMagazine.com.
LOG IN WITH YOUR
COMMENTARY MAGAZINE ID
Don't have a CommentaryMagazine.com log in?
CREATE A COMMENTARY
LOG IN ID
Enter you email address and password below. A confirmation email will be sent to the email address that you provide.