China: New Leaders, New Plans and Potential Troubles

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China's been a major engine of growth in the weakened global economy, but, today, in the hopes of slowing things down, it stunned economists and rattled stock markets worldwide by raising interest rates for the first time in three years. Though China's economy grows fast, a population equal to that of the US is moving from the countryside into the cities. Can the government maintain control? China watchers are trying to analyze the leadership choices and new five-year plan determined in four days of high-level, secret meetings by 300 top Communist Party leaders. What's next for economic growth, the environment and housing prices? Will censorship give way to greater openness? What about competition with the US?




Warren Olney