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Opinion
Michael Schuman

China Heightens the Contradictions

The tension between state control and market forces will only get worse.
You can't always get what you want.

You can't always get what you want.

Source: WPA Pool

Another tumultuous week for China’s stock markets has dealt yet another blow to global confidence in Beijing’s policy makers. Each tripped circuit breaker and policy reversal has underscored the inherent contradiction China faces -- between the leadership’s desire for the certainty of state control and the benefits of free markets.

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