Beijing’s economic planners have long defied their many doubters. Still, as George Magnus notes in “Red Flags: Why Xi’s China Is in Jeopardy,” the various engines that have powered China’s economy in recent decades—from the dramatic growth of trade at the turn of the century to the credit boom of recent years—are just about exhausted. President Xi Jinping understands the need to redirect the economy, but his reforms to date threaten to turn the China dream into a nightmare. After China joined the World Trade Organization in...

Source: Wall Street Journal December 09, 2018 22:52 UTC