Seeking Moral Leadership in China

Chinese professionals in Shanghai and Beijing are concerned about the financial disaster that has spread from New York and London throughout the world. They read the Western press that blames both individual executive greed and false belief in the inherent self-control of the capitalist market system; they worry about their own real estate values dropping; they question Adam Smith's notion of the invisible hand of the market as Western governments nationalize private banks. And they shake their heads. The West has lost any moral high ground it has had, and some now are wondering whether China can save the world from collapse.

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