China in the world economy

Was the forecast about triumph of western democracy as ideal form of political economy premature?

The previous weekend’s meeting in Beijing of the Belt and Road Forum for International Cooperation (OBOR, China’s One Belt One Road initiative), just after the celebration in Japan of 50 years of the Asian Development Bank, reminded me of the long history of China in the global economy — and the symbolism of roads in it. Seven centuries before Mao’s famous “long march” that led to the communist revolution, Marco Polo had travelled the Silk Road to bring Chinese silk and other goods to Europe and established diplomatic relations with the Mongolian emperor. If his descriptions are to be believed,