MixedThe Wall Street JournalRed Flags provides a comprehensive and valuable survey of the threats facing China’s economy. Unfortunately, it’s a tough read. Mr. Magnus, a former investment-bank economist, has a penchant for acronyms and infelicitous phrases ... What’s more, Mr. Magnus lacks the courage of his convictions. On the question of whether strengthening of the Party-state bodes well for China’s economy, he writes lamely that it is \'too early to tell.\' As millennia of Chinese history attest, the country’s economic potential has perennially been thwarted by a meddling bureaucracy. Under Mr. Xi’s \'imperial presidency,\' China is returning to this dismal tradition.
