Is China the New Japan? Can Liberals Fix Themselves?
Steven F. Hayward
I’ve been wondering for a long time about the prospect that China will sooner or later follow the Japanese experience, namely, that state-capitalism will crash, as it did in Japan around 1990. Japan still hasn’t really recovered. Like so many experts in the 1980s who used straight-line projections to show that Japan’s economy would overtake the United State by, well, about right now, China’s projected future growth may not pan out according to the current trend line. CNBC offers a good analysis of exactly this prospect today.