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Editorial comment.

Document Cited in Related
Vincent
AuthorPrickett, Ruth
PositionEditorial

What with approaching elections in the US, the ongoing war in Iraq and the recent scenes of chaos in Westminster as pro-hunting protestors invaded Parliament, issues surrounding democracy have dominated recent news. Western countries have a long-cherished attachment to various forms of democracy and, since the collapse of the former Soviet Union, they seemed to be on to a winning formula. The normal attitude in these countries has been "it's not perfect, but it's the best we've got". Most have consoled themselves over any scandals with the economic mantra that democracy and capitalism are inseparable and mutually beneficial. Liberals and conservatives alike tend to agree that most of us would not enjoy our current levels of modern comforts if we didn't live in a democracy.

And then along came China. We're all well aware that China is a huge country with a vast population. It's also hardly news that it is an attractive market--after all, European and US traders have been trying to break into it for hundreds of years, with varying degrees of ruthlessness and success. What does seem to have come as a shock to many western observers is that "Red" China has, in the past 20 years, undergone a radical economic transformation. While some pundits comment on the ways in which the Chinese government is combining communism and capitalism, and others ask whether its economic growth is sustainable, most multinationals are ignoring the debate and are moving in, keen to be part of the boom (page 14).

Back in the UK, people are also questioning the idea that the traditional western blueprint for success is the only way forward. A new wave of Asian millionaires is...

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