The FT's Davos blog offers a range of informed comment as our leaders gather in Switzerland to consider the economic mess we're in. But will the ongoing spat between the US and China over the renminbi exchange rate overshadow all else at the World Economic Forum?
Can China Adjust to the US Adjustment? Prof. Michael Pettis of Beijing University on the macroeconomic parallels between the present crisis and that of the 1930s, with China playing the role today that the US played back then.
Financial Regime Change? Robert Wade, professor of political economy and development at the London School of Economics, "argues that we are exiting the neoliberal paradigm that has held sway since the 1980s" and considers the "causes and repercussions of the crisis, and errors of the model that brought it to fruition." Prof. Wade was making similar predictions last year.
Corruption Threatens China's Future In a new report for the Carnegie Foundation, Pei Minxin offers an estimate that official corruption in China may cost as much as USD86bln each year - 0.65 percent of GDP and more than the education budget. He calls for economic and political reform; his critics might say no surprise there.