Can China’s hybrid state-capitalist economy learn to worship—or at least genuflect a bit deeper—at the altar of efficiency? As relations with wealthier, technologically advanced countries deteriorate, that is probably the most crucial economic question of the 2020s.
There are signs of real progress, much of it ironically driven by foreign pressure and the fear of stagnation as links with more open economies erode. But the enduring power of Chinese state-owned companies and their pull over the financial sector still represent huge vulnerabilities.
One clear and underappreciated example of progress is in intellectual property. Rhetoric from Washington notwithstanding, …
China’s State Capitalism Collides With Its Tech Ambitions
: IMF warns ‘cryptoization’ of emerging economies could threaten growth, financial stability
NewsWatch: The biggest risk facing investors this earnings season is lurking just beneath the surfac...
: Mortgage rates jump above 3%, creating pressure for home buyers
They Want to Hand Your Kid a Debit Card. What Do You Do?