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...policy matter, Kaufman's prediction is heavily debated among economists. But as politics, his critique threatens to undermine the White House's finely tuned election-year story line. To hear President Obama or his aides tell it, the coming Senate debate on financial regulatory reform will offer a clear choice to voters this fall between most Democrats who are defending the interests of Main Street and most Republicans who are in the pocket of Wall Street. Kaufman, by contrast, argues that neither party has yet shown much seriousness about undoing decades of deregulation, and nonregulation, that created the conditions...
...Forbidden City - a moment that can seem quixotic to Westerners, as if the American President crossed the Delaware River wearing a tricorn hat every 10th anniversary of the winter of 1776. But the Chinese know that such symbols matter. Amid the uncertainty of reform, they sketch a confident line: Look where we came from. Look where we are going...
...Party officials working on one element of the program, the nighttime fireworks display, had a particular request of the designers. China, they worried, is like many other nations - a place where the line between healthy patriotism and nationalism isn't apparent until you've stepped over it. They fretted that after a day of military adrenaline, a night of explosive percussion might be too much. So they asked, Would it be possible to arrange for a big, beautiful, calming fireworks display? (See pictures of U.S. Presidents in China...
...giant green cities, an idea that seems as likely as healthy cheeseburgers. This is a nation where party élites who have done well during the era of reform now complain ever more loudly about the ruling Communist Party. Split, ambitious, miraculous at times, but stretched on that line between past and future - this is China today, hoping for more explosive change without, well, an explosion...
...will be very difficult to make much progress with China if we don't see it more clearly. It has been tempting to look at China's process of reform and think that Deng Xiaoping's famous line "To get rich is glorious" might also mean "To get rich means to help America." This has happened in some areas, not least on Beijing's balance sheet, where to get rich has meant, frankly, to lend to an indebted U.S. But what is playing out with China is an expression of a debate that has been gathering force in Beijing: What...