Spectre of communism haunts Chinese elite

With the US empire in terminal decline, China has become essential to the globally integrated capitalist economy. It is now the world’s second largest economy, having officially overtaken its neighbour Japan, with a gross domestic product of over a trillion US dollars in the second quarter of 2010. It has long enjoyed gargantuan economic growth, and even weathered the storm of the global economic crisis up to this point. But its status as “sweatshop of the world” now seems extremely vulnerable to both internal and external shocks, and a period of huge social upheaval is on the horizon. [READ THE REST]

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