To the countries of the Western world, where the ancient Greek traditions of democratic governance have institutionalized over centuries, China is a peculiar, if not an intimidating, case against the conventional truth that democracy is good for humanity. American exceptionalism tells us that democracy is essential for economic growth, for the establishment of a just […]
Tag: 19th National Congress
China’s Debt Conundrum
President Xi Jinping and the standing committee. Analyzing China’s perilous macroeconomic position. As Martin Wolf of the Financial Times recently wrote, to understand the Chinese economy Stein’s law must be kept in mind. The economic law, named after Herbert Stein, Chairman of the Council of Economic advisors under President Nixon simply states that if something […]