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There's a worrisome shift in the way the most powerful people in the world are talking about China
For the past few years, the conversation that the world's rich and powerful have been having about China at the World Economic Forum in Davos, Switzerland, has sounded like this: BULLS: China is going to be a world power, surpassing the US, and one with the power to cleanly vault over the challenges posed by a modernizing economy — with a management capability and store of cash reserves to weather a storm. BEARS: China will suffer terrible shocks to its economy in order to manage a transition from a system based on investment to one based on consumption. It seems, though, that in 2016 that conversation has shifted ... (full story)
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