Nicolas Berggruen
Nicolas Berggruen
Nicolas Berggruen is co-founder of the Berggruen institute and co-author of “Renovating Democracy: Governing in the Age of Globalization and Digitlal Capitalism”.

China could use its huge surpluses to create a fund that provides dividends from capital gains on its investments to every family. Families could draw on their accumulated wealth for their own needs, or even to start a business.


The governing systems of the world's two largest economies are in crisis. As the United States has been grappling with a fiscal cliff, China faces a social cliff. Without major reform, both will falter.