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Anne Stevenson-Yang

Are the U.S. and China Making the World Safe for Fraud?

As the two countries break away from the rules of governance, preventing and finding wrongdoing has become a far more difficult endeavor.

Two sides, one coin.

Two sides, one coin.

Photographer: Nicolas Asfouri/AFP/Getty Images

China and the U.S. are presenting themselves as exemplars of opposite models of political governance.

China has laid out its vision for a rejuvenated nation: a socialist planned economy, built on data and analytics, that will displace market economies. The U.S. is taking the opposite route: withdrawing government from the marketplace, deregulating the economy through executive orders, starving regulators of funds, and appointing agency heads with records of antagonism to their own agencies’ missions.