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From the opinion pages of the Wall Street Journal, this is the best of Free Expression with Jerry Baker.

Welcome's free expression with me, Jerry Baker from the Wall Street Journal editorial page.

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I'm delighted to say I have with me, George Magnus.

George is a long time, very experienced and widely regarded observer of and commentator on China. He's written several books,

including one published just a few years ago, which looks both prescient and extremely germane

to the discussion we're having. It's called Red Flags, Why Zee's China is in jeopardy.

We've all got used in the last 20 years to thinking of the Chinese economy as this extraordinary

behemoth, this growing steadily, growing from a fraction of the size of the US economy 30 years

ago to basically, certainly in terms of purchasing power, parodies, you know, roughly similar

size to the US economy, obviously much smaller in terms of per capita because of the

size of the population. But we've been used to seeing China as being on this trajectory of

economic ascendancy. And, you know, certainly here in the United States, there have been

hundreds of scholarly articles and books talking about China's century and China's economic

...