William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."
Volatility will magnify Beijing's caution rather than its courage


Xi Jinping, center, leads the new Politburo Standing Committee into an exhibition in Yan'an, China on Oct. 27: Investors might not like it. © Xinhua/AP
William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."