The Penguin Economist Special reports delve into the most pressing economic issues of the day: from national and global economies, to the impact of trade, industry and jobs. Written to be read on a long commute or in your lunch hour – be better informed in under an hour.’The line up for next year’s change of leadership does not give cause for optimism’ says James Miles, the Economist’s China correspondent.With a heavily state owned banking system, waning numbers of workers in a labour intensive industrial economy and lack of development in new business, China’s current boom may be set to bust. In the following sections, James Miles examines the restrictive nature of government in China, and what it will mean for the country and the rest of the world.Urbanisation: Where do you live?Rising power, anxious state China’s new leaders: The princelings are coming Growth prospects: Beware the middle-income trap Deng & Co Government’s role in industry: The long arm of the state Demography: Getting on Ideological battles: Universalists v exceptionalists