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China Plays a Better Long-Term Hand
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China Plays a Better Long-Term Hand

Our Correspondent
Nov 20, 2008
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China Plays a Better Long-Term Hand
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As we have long warned, America's reliance on borrowing and consumption to fuel economic activity would result in the wholesale destruction of national wealth. Until recently, the dissipation was largely invisible to most consumers.

However, the ongoing plunge in real estate and equity prices and newly released statistics concerning retail sales, consume…

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