With unemployment in China rising, economic stimulus is urgently needed. But Premier Li Keqiang has been wise to highlight the importance of not overdoing it.
Disengagement will impede growth, increase business costs, and raise prices for everyone in the West. But the economy that loses the most may be China’s.
Deepening confrontation between China and the U.S. reflects an outdated Cold War mindset on both sides that is utterly unsuited to today’s global challenges.