Abstract
As it prepares to host the 2008 Olympics, China's authoritarian development model, which has sustained high growth for two decades, is entering a fragile new stage. Tainted toys and other products have made the American consumers on whom China relies wary even as the debt‐and‐deficit ridden American economy relies on China's massive foreign reserves to keep going. In the meantime, China's aggressive search for raw materials in Africa is causing a backlash while its cyberspying probes into Western defense systems are reviving Cold War‐like tensions. The US treasury secretary, a top China expert and former intelligence officials offer their views.
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