In the newspapers there is much discussion of what General Motors (NYSE:GM) should do. This discussion has gone on for many years. Until now, it was a conversation carried on by serious analysts and auto industry experts. They all said the same thing: GM needed to clear out its management, dump much of its expensive, “legacy” overhead, and produce better cars. Why didn’t it do so?

China’s long-term prospects are so strong that even a civil war, an economic collapse or political assassinations would only temporarily delay its emergence as a worldwide economic powerhouse.