Even China can’t buck the market
Some years ago, I sat with an old China hand in a Beijing teahouse sipping oolong. An American director at a local education firm, his face was grey, creased by decades of pollution and office politics. But when talk turned to the country’s first spacewalk, recently completed, his brow furrowed. ‘Have you ever noticed that the government is trying to do everything the United States did, but 50 years later?’ He ticked off a list of the mainland’s aims and achievements, from manned space travel, to plans to place a Chinese citizen on the surface of the Moon. But the comparisons don’t end there. For all of its trumpeted exceptionalism,
