Opinion: Chinese leaders’ efforts to stave off a major recession are pitting rising debt risks against economic reforms, and it’s unclear which will win out
"One of the biggest truths economists have learned over the last dozen years is that the Chinese economic system can postpone recessions for much longer than American or European systems," writes Tyler Cowen. "At least by traditional metrics, the Chinese system has showed signs of trouble and excess capacity at least since 2006."
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A Spring Festival celebration in Qingdao
Lunar New Year, also called Spring Festival, is the most important holiday celebrated in many Asian countries, including China, Japan, and South Korea. Our video editor Jia Guo filmed the festivities in the coastal city of Qingdao at the start of the Year of the Rooster. For more on the Spring Festival TV Gala, see our review of this year's program. Read more
Feb 21, 2017