China quietly relaxes hukou system, easing restrictions on rural migrants
By
The Economist
Plain bagel done well. Pleasantly substantive.
Summary
China is quietly relaxing its notorious hukou (household registration) system, which has long restricted rural migrants' access to urban services and social benefits. The article draws a parallel to comparative advantage theory, suggesting that easing these restrictions could reduce trade tensions by boosting domestic consumption and rebalancing China's economy. It also notes that Karl Marx would approve of such reforms as they address internal labor exploitation.
Key quotes
· 4 pulledAN IMPERTINENT SOUL once asked Paul Samuelson to name a social-scientific principle that was true but not trivial.
The Nobel laureate's answer was comparative advantage, which explains why two countries can both benefit from trade even if one is better than the other at everything.
That principle has sadly fallen out of fashion.
So here is another one that is true, non-trivial and more germane to this age: China would face fewer trade wars with t
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