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Essay text:
But in China, as in Indonesia, the military is no longer making money, and China has banned its officers from business. Now Beijing is creating international tension to soak up the military’s energy and resentment. But in the end, the guarantor of the regime can bring its death, leaving warlords poised to take power.
ANALYSIS
We have long argued that the Asian economic meltdown, as its ultimate legacy, would politically reconfigure Asia. We meant this in both the international and domestic sense: Nations would behave differently after the meltdown than they did during the past generation of extraordinary prosperity...
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