Opinion: Too big, too Leninist — a China crisis is a matter of time


"The Leninist party-state cannot give a solution to the problem of governance. Yet it can offer no solution to the economic problem, either,” writes Martin Wolf. “If a market economy is to be combined with reasonably non-corrupt government, economic agents need legal rights protected by independent courts. But that is precisely what a Leninist party-state cannot provide, since it is, by definition, above the law."