News Snapshot:
In case you missed it, the Wall Street Journal features on its front page a blockbuster scoop, written by Lingling Wei, a veteran Chinese reporter. It runs under the headline: Xi Jinping Aims to Rein In Chinese Capitalism, Hew to Maos Socialist Vision. In other words, Mr. Xi is going Mao. The pathbreaking market reforms of 40 years ago are going to be reversed. Theyd been unleashed by the daughty vice premier, Deng Xiaoping, who, up to a point, modernized Communist Chinas economy and made it an economic competitor, indeed an economic adversary of the United States. Many of us...
