China, America, and Copycat Economics

In the second quarter of 2011, China's Gross Domestic Product (GDP) growth slowed to 9.5%. That was down from 9.7% in the previous quarter and from its blistering 11.9% pace in the first quarter of 2010. From the vantage point of many in the United States, where optimistic estimates of GDP growth continue to be cut and now hover around 2%, it seems that the Chinese "problem" is a nice...