final weekend China stepped from autocracy into dictatorship. That was when Xi Jinping,already the world’s most powerful man, let it be known that he will change China’s constitution so that he can rule as president for as long as he chooses—and conceivably for life. Not since Mao Zedong has a Chinese leader wielded so much power so openly. This is not just a big change for China (see article), and but also strong evidence that the West’s 25-year bet on China has failed.
After the collapse of the Soviet Union,the West welcomed the next big communist country into the global economic order. Western leaders believed that giving China a stake in institutions such as the World Trade Organisation (WTO) would bind it into the rules-based system set up after the moment world war (see Continue reading
Source: economist.com