Broken China/Business Week

Broken China

Beijing can't clean up the environment, rein in stock speculation, or
police its companies. Why the mainland's problems could keep it from
becoming the next superpower

by Pete Engardio, Dexter Roberts, Frederik Balfour and Bruce Einhorn

When the bureaucratic machinery of China rolls into action, it is a
sight to behold. A mayor announces a plan to reclaim hundreds of acres
from the sea and build a massive industrial complex. A few years later,
busy factories and roads stretch as far as the eye can see, families are
living in thousands of new apartments, and 10,000 workers have launched
Phase Two.