Where’s China’s Apocalypse?

Lost in the chaff, there is a revolution going on in China. At the urging of Prime Minister Li Keqiang, it is becoming a two-tier economy, with banks and economic planners pushing hard for the new high-tech economy in electronics, cars, high-speed rail and other new-economy sectors, while backing off on the behemoth smokestack industries that have characterized the economy over the previous two decades.

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