Over the past three months, uncertainty over the course of Chinese development has intensified, with a steady flow of mostly bad economic news: yet another plunge in the stock market, which was already crumbling and kept afloat only by massive state intervention; mounting corporate debt; and a hemorrhaging of foreign exchange reserves, to name a few. The reality is that China is staring economic stagnation in the face, and the ruling Chinese Communist Party (CCP) is panicking. The party appeared to have acknowledged the seriousness of its economic woes, which can only be worsened by a declining and aging labor

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  • DANIEL C . LYNCH is Associate Professor at the School of International Relations at the University of Southern California.
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