I thought this article really summed up the important facts regarding China's overtaking of Japan as the world's number 2 economy. A number of lessons are going to be learned from China's rise, and even more mis-lessons are going to be taken from it as well. The most important mis-lesson is: Authoritarianism works.
http://www.washingtonpost.com/wp-dyn/content/article/2010/08/29/AR2010082902898.html
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