The talking-head circuit in the global media has never had a feeding frenzy quite like the topic of China in the global economy. Learned scholars, business people and pointy-headed pundits yammer on and on about the opportunity that China represents or the threat of disaster that is sure to follow its global dominance. Even by launching these podcasts into the ether, we are participating in this same maelstrom.

But what is China? Is it a threat to the heretofore stable economies of the West? An opportunity of riches beyond belief? Both? Neither?