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Unlike America, China Is Embracing Bold Reform
The contrast of the past
week has been telling. In the U.S., you've had the yawn-fest otherwise
known as the debt ceiling debate. All too predictably, the Republicans
caved because their politicians will be up for re-election soon enough,
whereas Obama won't be (he can only serve two terms). It wasn't hard to
work out the endgame in advance, despite all the hoopla, and the markets
nailed it from day one.
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