Crash and Burn
For years, the Beijing regime has stayed in power using a basic bargain with its citizens: Tolerate our authoritarian rule and we'll make you rich. And for years, this seemed to work, leading many China-watchers (myself included) to conclude that Beijing was rising into great-power status. But as the financial crisis shows, that bargain rests on weak foundations. And if Beijing breaks its end of the deal, its people, already holding rising numbers of ... Full Story »
Posted by Kaizar Campwala
I have watched the Chinese economic expansion with real interest, since it seems to be based on an economic policy that skillfully balances increases in the medium of exchange with increases in domestic production. My last trip to China was long ago (1984) and I hope to visit again before too much time passes