Learning is a two-way process

For more than three decades, China has looked up to and learnt from the West in its drive to catch up with the rest of the world. Quite a few even believe that the country has everything to learn from the West while the West has nothing to learn from China.

But that should not be the case today, at least according to Loretta Napoleoni, author of the new book, Maonomics: Why Chinese Communists Make Better Capitalists Than We Do.

In a talk at the China Institute in New York this week, Napoleoni claims the West has a lot to learn from the Chinese model. She describes the Western system as now obsolete and old and out of sync with globalization.