Western liberalism has lost me.
When my plane landed in Sydney on 19 January 1989, I recited a tragic Chinese poem: Dangers lie ahead, I may not return alive. But I am fearless. 风萧萧兮易水寒,壮士一去兮不复还。
I had embraced western liberalism well before the People’s Bank of China sent me to Australia to study. Since then I, an economic refugee, have survived and arguably even thrived in Au...
A delayed collapse of China.
Gordon Chang’s 2001 book “The Coming Collapse of China” was a bestseller partly because its central message was what many western readers wanted to hear.
The book has spent 19 years on my bookshelf. Today, non-performing loans in China’s banking system are far bigger, both in magnitude and in percentage to banking assets or GDP. But a collapse has not happened...