Could China become another Japan?

A new book raises the grim possibility China could 'turn inwards' and end up like Japan.

China's decision not to allow Coca Cola to buy local soft drinks champion Huiyuan Juice, announced on March 18, and the latest World Bank report predicting growth will slow to 6.5% from the previously forecast 7.5%, has caused some commentators to wonder whether China could turn inwards. The fear is that China could turn away from its relatively open economic model and copy Japan's 'mercantilist' model, defined as manipulating the terms of trade in one's favour through currency depreciation and...

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