China ushered in the year of the rabbit in a buoyant mood. Prices of high-end commodities rose sharply – not, it seems, because of a spike in food prices, but because there are so many people with spare cash to spend. Internationally, meanwhile, China’s rapid recovery from the global financial crisis, its successful test of the J-20 stealth plane, and the achievements of its athletes and artists have all served to create an image of China as the power to emulate in much of the world.
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