From the collapse of Soviet communism in 1991 until the 2008 global financial crisis, the U.S. design for global economic management had been generally accepted. But the 2008 disaster blew up in the heart of the American economy or, as the Chinese saw it, “in the core of the capitalist world.” The “Chinese model” of a state- (and party-) managed economy offered an alternative. Moreover, China was the engine that first pulled the world economy out of the crisis in 2009 and back to recovery. China no longer felt the need to look to the United States for either guidance or role models. In the
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