Originally published on Sun July 15, 2012 10:11 am
No country has enjoyed more spectacular growth in recent decades than China. But the economy that will one day replace America's as the world's largest also faces a lot of challenges. Guest host David Greene talks to NPR's Frank Langfitt, who was a reporter in China in the '90s and returned to Shanghai for NPR last year.
Who does capitalism better? For all appearances, China has emerged unscathed from the global economic crisis, in stark contrast to its biggest debtor, America. China's admirers point to its ability to mobilize state resources, quick decision-making and business-friendly environment as reasons for its economic ascendency.