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Post-Peak China

China’s existential problems – including excessive indebtedness, unfavorable demographics, and widening inequality – are becoming increasingly apparent. In some ways, that makes President Xi Jinping's regime potentially even more troublesome and threatening for the rest of the world.

LONDON – Dictators do not like others grading their performance. Any sort of assessment of such leaders’ successes or failures, even by their close colleagues and advisers, is a big step toward undermining them. Permitting criticism, let alone encouraging it, is out of the question.