China’s ascent has been the main source of popular legitimacy for the ruling Communist Party. But Beijing worries that the mantle of economic titan comes with unwanted obligations for a country still in many ways poor. “China Surpassing Japan to Become World’s Second Biggest Economy—But Not the Second Strongest,” said the headline on a recent article on the website of the People’s Daily, the party’s flagship newspaper.
Interesting page one article in WSJ today about China’s ambivalence in surpassing Japan as the world’s 2nd largest economy.
http://online.wsj.com/article/SB10001424052748704593604576140912411499184.html
