Deepening confrontation between China and the U.S. reflects an outdated Cold War mindset on both sides that is utterly unsuited to today’s global challenges.
Entering the 'Great Tides Surge Along the Pearl River: 40 Years of Reform and Opening Up' exhibit, at the Shenzhen Contemporary Art Hall. Credit: Red Guosam ZhuGuang01 via Wikimedia Commons
In his 1944 classic The Road to Serfdom, the Austrian economist and philosopher Friedrich August von Hayek warned that central planning and public ownership would inevitably lead to hardship, oppression, and even tyranny, while free markets would naturally maximize general welfare. The same year, in The Great Transformation, the American-Hungarian economic historian Karl Polanyi offered a very different picture, arguing that market forces and society are locked in a kind of struggle: c
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At the height of the pandemic, Chinese vaccine maker Sinovac was a hero and one of the country’s most promising companies. But its success masked a protracted dispute between rival investors and management for control of the cash-rich company. The Wire China investigates what went wrong.
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