JPMorgan Chase stands accused of essentially funneling funds to Wen Jiabao's only daughter to win business in China, bringing a federal probe. Yet the takeaway here merely reinforces a truth that has long been evident to those paying attention to the pungent interplay of money and power in China: Despite the prattling of global business leaders that their presence in China is a wholesome boon to justice and right, they have frequently enriched themselves by engaging in the very dirty doings they claim to disdain.
The Communist Party Congress is shifting power to the next generation of Chinese. What will these mean for the US and the future of the country?
The story of how China's political elites have been able to leverage their power to make a quick RMB is alluring, but it is also important to keep this in perspective and remember that most of China's richest owe their success to their distance from, rather than their connections in, Beijing.
China's growth is widely expected to slow further in the second half of 2012. As it does, the new and old guards of China's leadership will be hard-pressed to reassure the Chinese public that their way remains the best way.
Global capitalism -- including in China, despite its self-styled socialism with Chinese characteristics" -- is in its most severe crisis since the great crash of the 1930s. The question is, can any country make a system with serious built-in flaws function for all of its people?