If COMAC’s C919 jumbo jet takes off, so does China. But is the Chinese government’s heavy hand weighing it down?
On a spring day four years ago, China’s ultimate industrial dream came true. The C919, a single-aisle, two-engine jetliner, touched down in Shanghai to a throng of cheering spectators. No less than two members of the Communist Party’s mighty Politburo attended the celebratory festivities. The C919 had just completed its 79-minute maiden voyage, and its safe descent marked a “centurial breakthrough,” according to its manufacturer, the state-owned Commercial Aircraft Corporation of China (
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For much of the past two decades, Europe's luxury market has counted on the ferocious appetite of Chinese consumers to bolster its bottom line. But foreign luxury brands are facing a reckoning in China. Not only is China’s economy entering a more uncertain phase, giving consumers pause, but homegrown designers and labels are also gaining ground. The questions now are which European brands can still rely on China, and how China's domestic designers can capture a share of the pie.
The Treasury’s top international official gives an inside-the-room account of the latest talks between Treasury Secretary Yellen and the Chinese leadership, including the U.S.’s efforts to get Beijing to address overcapacity and economic imbalances, how...
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