China’s Next Leap Forward

I just spent two weeks lecturing in China and Hong Kong, and discussing China's economic development with many economists, businessmen and government officials. China's progress since my first trip there in 1981 has been truly remarkable, and I expect considerable growth during the next decade. Nevertheless, China still faces many challenges if it is to move beyond middle-level income status into the exclusive club of high per capita income countries.

Continue reading Gary Becker in The Wall Street Journal…