By Ali Wyne – Of the foreign-policy challenges that will confront the president of the United States on January 20, 2013 few are as complex and consequential as managing the ongoing rise of China—a continental country that will soon have the world’s largest economy and, within three decades, could be the world’s largest defense spender.
It is difficult to imagine a more different pair of countries that must accommodate one another.
The competitive dimension of their relationship is not particularly ideological. There is, to be sure, a pronounced gap between their core values, but it is not as stark as the slogans “capitalist vs. communist” and “democratic vs. authoritarian” suggest. Instead, China fuses state capitalism with adaptive authoritarianism. Despite the power of its state-owned enterprises, it is taking incremental, but important, steps to liberalize. more> http://tinyurl.com/d8cccpr
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By Will Hutton – This entire financial edifice, underwritten by tiny amounts of capital, has been created over three decades backed by the theory that 
