A provocative thought from "Good" Magazine:
Bailing out the West could prove the final capstone in China’s global ascendancy, signaling, like the United States’s dominance of the post-WWII globe, that Beijing has arrived as a power—and even has lessons to teach other nations.
A rescue would show that Beijing’s model of development—one that doesn’t involve messy things like democracy—can stand up to the Western democratic gospel preached since World War II.
And once shy of promoting its model, China now may be ready to play the leader. In recent years, Beijing has started touting its success to other nations through annual training programs for thousands of officials from across the developing world. (Full)