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Opinion

China is losing the new Cold War

Beijing seemingly set to follow Soviet Union in doomed arms race with the US

| China
China's rising defense budgets and foreign aid handouts seem unsustainable.   © Reuters

HONG KONG -- When the Soviet Union imploded in 1991, the Communist Party of China became obsessed with understanding why. The government think tanks entrusted with this task heaped plenty of blame on Mikhail Gorbachev, the reformist leader who was simply not ruthless enough to hold the Soviet Union together. But Chinese leaders also highlighted other important factors, not all of which China's leaders seem to be heeding today.

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