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 to ... (full story)