Emperor Xi’s Dilemma
China has increasingly sought to project the success of its markets-and-mandarins development model. But, as China’s economy slows this year, President Xi Jinping is likely to discover that there really is a link between a society’s openness and the sustainability of its economic success.
LONDON – I once spoke with a Chinese academic whose parents had fled China during the 1930s, appalled by the greed and corruption rampant in the country before the communist revolution. They returned after 1949, leaving comfortable jobs in California universities to help build a new China.