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Communist Party of China CPC
08:50, March 02, 2011

China's success attributed to socialism model (2)
"In the developing world, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules that put at risk the entire global economy," Stiglitz wrote in 2009 in an article called "Wall Street's Toxic Message."

"They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens. They see, in short, a fundamental problem of political accountability in the US system of democracy," Stiglitz added.

Francis Fukuyama, a professor with the School of Advanced International Studies at Johns Hopkins University, told the Financial Times in January that the US system has now become polarized and ideologically rigid.

"At present, it shows little appetite for dealing with the long-term fiscal challenges the US faces. Democracy in America … will not be much of a model to anyone if the (US) government is divided against itself and cannot govern," Fukuyama wrote in the article "US Democracy Has Little To Teach China."

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