Fickle investors have spurned emerging markets in recent weeks, but this rout has obscured a more alluring vista out on the horizon.
The Great Debate
An emerging bird flu that is mysterious and deadly is haunting China. With four fresh H7N9 cases reported in Jiangsu Province and no indication as to how three Chinese adults caught the little-noted avian flu virus that killed two of them in March, the global medical community is hoping the new flu will calm down until China’s health system can determine how it spread.
For a Russian to live in Beijing is to experience time travel. Things long gone in Russia, or stuffed into kitschy theme bars to draw tourists, still appear in China with no sense of irony. There are endless displays of hammer-and-sickles, Red stars, and exhortations to Obey the Communist Party. There’s the rhetorical deification of the worker and the peasant. “Public-security volunteers,” elderly men and women with red arm-bands and a lot of time on their hands, lounge on little folding stools, sizing up passers-by. There are five-year plans, and front-page headlines screaming “Socialist path reaffirmed”. I thought I left all of this in the 1980s’ Leningrad. But no, it’s all still here in Beijing, instantly recognizable even behind Chinese characters that give it a new spin. All of which makes it tempting to think how Russia and China have changed over the last 20 years.