TED Talk: Does Democracy Stifle Economic Growth?

This is an amazingly useful TED talk by MIT economist Yasheng Huang on the economic development of China vs India and the factors leading to that.
TED Talk: Does Democracy Stifle Economic Growth?

"Does democracy stifle economic growth?" is his main question here.

My main take-aways that are relevant to Egypt:

- Current infrastructure is not a predictor for future economic growth. Economic growth leads to better infrastructure in the process.
- China's Cultural Revolution did NOT hinder economic growth over those 10 yrs (not that I want that to happen in Egypt- bas el 3agala makanetsh makhrooma)
- Human capital is China's biggest asset. Adult literacy in 1990 was 77.8%. India has a lower percentage and thus slower growth in the 1990s.
- Chinese women's role in the economy and the society is a great contributor to economic growth
- The Chinese government though non-democratic has achieved the following to boost economic growth:
     1. Village elections (i.e. local people controlling their fate)
     2. Security of proprietors
     3. Long-term land leases
     4. Financial reforms in rural China
     5. Rural entrepreneurial evolution
- India's lowest growth rates happened when it was least democractic under emergency rules and state control of TV stations

I will later post my personal observations from being in China for three weeks last January.