China Survives a Big Year

Dec. 27 (Bloomberg) -- The year 2012 will go into the history books as one of contrasting transitions. China’s five-year cycle for Communist Party congresses and leadership turnover overlapped with the U.S.’s four-year electoral calendar. And if that once-in-20-years coincidence wasn’t enough, Egypt’s rocky shift from dictatorship to democracy continues to remind us of what transition looks like in the absence of a predictable institutional framework.

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