Still in the Middle Kingdom.

This article presents information on the economic conditions in China. Sometime in 1993 China's booming economy will start to overheat dangerously. The last time China all but ignited, in 1988, the government could control inflation only by imposing a severe austerity programme. This time will be different, say optimists, because China's economy has since been liberalized so much. It has, but the one part that needs to have changed most if China is to slow down gracefully has not changed nearly enough. Its financial system is still a centrally--planned catastrophe.