ECONOMICS China intends to party like it’s 1949 … again*

I’m not the only Australian wondering about China. The question for me had always been, which direction China would take. Would it fully embrace the conventional (even neo-liberal) capitalist model, and follow the United States by fully embracing the market economy model, or did it really believe in the kind of communism followed by the former Soviet Union? Was it happy to take the chance the U.S. offered it to enter the U.S. market to dig itself out of a hole, or was that merely a means …

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