The tailored gents marching in perfect step toward the podium have reason enough to smile. Led by Premier Wen Jiabo and Supremo Hu Jintao, China’s gang of nine are entitled to feel pretty satisfied with their nation’s recent economic performance.

Wen’s remarks to the annual National People’s Congress were chosen with care to balance the good news with a warning against national complacency. His talk of destabilizing problems on the horizon, though, could not disguise the self-congratulatory stuff. China is doing very nicely, thank you.

China’s extraordinary statistics tell a decidedly different story from the doom and gloom in Japan and the West. While the G-8 nations fear a double dip recession and voice concerns over happens next once all the massive state funding is removed, China sails regally on.

Read more >