In 2012, Chinese President Xi Jinping promised that the Communist Party would deliver great successes in advance of two upcoming centennials, in 2021 and 2049. But no amount of nationalist posturing can change the fact that the fall of the CPC appears closer than at any time since the end of the Mao era.
Argentina's President Mauricio Macri knew that he had inherited a sick economy when he took office in 2015, but failed to take his medicine. As a result, the country now has no choice but to face up to a period of painful structural adjustment.
For two generations after World War II, the marriage between market capitalism and representative democracy delivered widely shared prosperity for the Western world. But, viewed in a broader historical context, the Golden Age may have been the exception rather than the rule.