First Tunisia, then Egypt, now Libya and Bahrain. Some observers who link the events in the Arab world to an inevitable push for democracy in the People’s Republic ask if China can be far behind. This is rather akin to the continued expectation of a substantial appreciation of the yuan: hope springs eternal. In our view, events point in the opposite direction (as I first argued in my blog a week ago).
Adopting the name of the “Jasmine Revolution” from North Africa, pro-democracy...
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