News Snapshot:
Chinese communists have no choice but to veer away from free enterprise. But we do. By James Pethokoukis Market capitalism has passed the market test. It’s a socioeconomic system that has propelled humanity to a standard of living unimaginable 200 years ago. Calling that transformation in human welfare a secular “miracle” is hardly an overstatement. Amazing things have happened in any place that’s allowed or enabled even a smidge of economic freedom. And that includes China. But now China has a problem. The success of its private sector poses a challenge to the supremacy of the state — or, to...
