I’m in Shenyang, China, as part of the faculty for Northeastern University’s International Economics and Management program.
My primary role is to talk about the economics of fiscal policy, explaining the impact of both taxes and spending.
But regular readers already know my views on those issues, so let’s look instead at the vaunted Chinese Miracle.
And I don’t use “vaunted” in a sarcastic sense. Ever since China began to liberalize its economy in the late 1970s, economic growth has been very impressive. I don’t necessarily believe the statistics coming from the Chinese government, but it’s unquestionably true that there’s been spectacular progress.
The great mystery, though, is whether China will continue to enjoy rapid growth. In other words, will it actually converge with the United States (right now per-capita economic output in America is more than five times higher than it is in China)? Or will China, like
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Utopia, you are standing in it! 
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