From The International Herald Tribune, via A Glimpse of the World:
Headlines about China’s advance have been coming thick and fast this past week. The economy is 17 percent bigger than previously estimated. It is about to surpass every country in Europe except Germany and still growing at 9 percent. China’s information technology exports have surpassed those of the United States. It now exports more cars than it imports. Beijing seems almost embarrassed by all this good news and published a document emphasizing that its “peaceful rise” is no threat to anyone.
But before we all get overwhelmed by China’s great leaps forward, let’s put them in context.
