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China is a not a "new" form of Capitalism, but rather an old one, close to Corporate Capitalism, what some might call Fascism.
Some of my views on China can be founded at:
http://www.mises.org/freemarket_detail.asp?control=100&;sortorder=articledate
It is going to be a "long march" as China has a stagnant state sector and 200 million essentially unemployed.
Billy did balance the budget, but the "mix," in Capitalism, as FDR used to say, "Now there's the rub!"
I find it odd that you would criticize Chris Sciabarra for linking to that Robert Wright piece--yet you remain silent as Bill Gates calls China "phenomenal" and "a brand new form of capitalism."
If Gates can be forgiven his remarks about China, then why is Wright's approval of Clinton such a terrible thing? I'm certainly no fan of Clinton, but recent American-style mixed capitalism is a fair bit better than, say, North Korean Stalinism.