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Shares advance as tech stocks bolster Wall Street; Treasury Wine to buy California winemaker; China data pending; Bank of Japan policy decision ahead. Follow updates here.

Authoritarians, in China and elsewhere, normally have preferred to dress their authoritarianism up in pretty clothes. Lenin called the version of dictatorship he invented in 1921 “democratic centralism,” but it became clear, especially after Stalin and Mao inherited the system, that centralism, not democracy, was the point. More recent examples of prettifying include “The

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Ten years ago this November, the 18th Central Committee of the Communist Party of China (CPC) held its Third Plenum, outlining a series of far-reaching reforms designed to sustain China’s rapid economic growth. Around that time, a naive extrapolation based on the difference in growth rates between China and the United States suggested that China’s GDP would overtake America’s by 2021. Some speculate...