The China that works

AFTER a summer of tumbling stockmarkets and gloomy data, the Chinese economy has the rest of the world on edge. The value of imports sank by 14.3% in August year on year, reinforcing worries that a sharp slowdown is under way. Those years of double-digit growth are firmly in the past. The question many ask is whether China can find a new model of growth to replace the old one. The good news is that it already exists. It is called the private sector.