Corruption. Pollution. Debt. Will Beijing's leaders tackle the challenges before the bubble bursts?
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2014 is the year of the horse in China. But for the rest of us, it might prove to be the year of China. The country faces a historic turning point: either it will revamp its economic system, deal with some of its growing environmental and social problems and set itself up for another decade of growth and stability that will ensure it becomes the world’s largest economy, or 2014 will be the year that the great Chinese miracle hits a serious road bump–with seismic consequences.
People have been making such predictions about China for years, even decades, and the worst has never come to pass.