China's Authoritarian Capitalism

China’s phenomenal rise has led many to view the country as an indomitable juggernaut. Why then does Premier Wen Jiabao describe the country’s economic model as “unstable, unbalanced, uncoordinated and unsustainable?” Because it is. The much-vaunted China Model has morphed in the past decade into a one-of-a-kind system of authoritarian capitalism that is in danger of terminating itself – and taking the world down with it. It is also proving incompatible with global trade and business governance, and threatening multinationals that fear losing technology and business secrets to China’s mammoth state-owned enterprises they are forced to partner with.

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