Year of the Dictator
American political and financial elites make catastrophic, self-serving mistakes. Exhibit A is Xi Jinping, China’s newly announced lifetime president. As recently as decade ago, leaders of both U.S. parties and informed commentators were convinced that China would soon converge with the West, as a capitalist democracy, and that easy terms of entry to the World Trade Organization would pave the way. Everyone from Clinton’s economic eminence Robert Rubin to Joe Biden to George W. Bush insisted that China would soon [...]