China's rise and its challenges

For a political dispensation that has long relied on providing high economic growth rates to sustain political legitimacy, the current slowdown is a huge problem

China celebrated 70 years of Communist party rule this week with great pomp and circumstance, showcasing its growing prowess with the military parade of troops and weapons including new hypersonic drones and intercontinental ballistic missiles. According to China’s Ministry of National Defence, 15,000 military personnel along with 580 pieces of military equipment and 160 aircraft participated in the parade. Chinese President Xi Jinping who is now almost as powerful and influential as Mao marked the occasion with a speech which was as much directed to the domestic as it was to the global audience. From the same spot where Mao