Purpose More and more statistics have repeatedly shown that as the economic development has entered the New Normal, the Chinese fiscal system has experienced tremendous changes. Although chance cannot be ruled out, much of those changes indicate trends, and they can even be said to be the result...

Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things turned out rather differently. Conventional wisdom blamed poor...