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Chinese intellectuals argue that their country needs strong central leadership, in part because western alternatives have been discredited. Martin Wolf sympathises with their desire for stability and agrees they have a point about the lack of praiseworthy US and European role models. But he has doubts whether the country can really turn itself into a giant version of Singapore.

Martin predicts that China-US relations face a testy year, in part because the Trump administration’s goals for their trade talks make no sense. He points out that the west must recognise that China is an essential partner in ensuring a reasonably co-operative, stable, prosperous and peaceful world.

Royal wedding
This weekend’s festivities starring Prince Harry and Meghan Markle highlight the British monarchy’s ability to mix traditional pomp with just enough modernity to make the institution feel relevant to much of the country’s population, writes Frederick Studemann. Though large chunks of the elite profess indifference to the royal nuptials, and in some cases hostility to the monarchy, the rest of the country draws comfort from the ordered permanence symbolised by the Queen.

Market democracy
I am writing about shareholder responsibilities in light of the troubles at WPP. Chief executive Martin Sorrell retired last month, just days after the advertising conglomerate announced it was investigating allegations of “personal misconduct” against him. He denies wrongdoing. Shareholders will be asked next month to approve both the company’s pay plan, which allows him to keep the £14m he earned last year, and the reappointment of the chairman, despite the group’s failure to plan for Sir Martin’s succession. I urge investors to take a more active role and stop rubber stamping executive decisions.

Healthcare productivity
Artificial intelligence programs could finally help the US get a grip on its soaring healthcare costs by allowing machines to do much of the routine diagnosis work. That would allow experts to spend their precious time on more complex cases and those who really need their help, argues William Frist. While rigorous clinical trials and careful supervision are needed, he believes the Food and Drug Administration has taken the right first step by approving a new AI-based system that analyses retinal scans to look for a common cause of blindness.

Best of the rest

A warning to the Tories: Britain’s true blue suburbs have turned liberal — John Harris in The Guardian

When Spies Hack Journalism — Scott Shane in The New York Times

Brexit revolution has brought only deadlock – Rachel Sylvester in The Times

A grotesque spectacle in Jerusalem — Michelle Goldberg in the New York Times

What you’ve been saying

Big ideas are needed to fix intergenerational conflict — letter from Toby Hamblin

I would propose reducing interest on student loans to zero while imposing a fixed and non-negotiable percentage of affordable housing on all new housing developments. This could be followed up with higher tax on non-main residence property acquisitions to finance higher healthcare costs and reduce the future burden on the younger generation.

Comment from Joker on How India’s Narendra Modi will shape the world

It is ludicrous to put Trump in the same category of Xi, Putin and Erdogan. You may dislike his style and policies, but he is the freely elected leader of a country that is the pinnacle of democracy. Nothing has changed in the constitution of that country. If Americans are tired of Trump, they will send him home in 2020. Peacefully.

Regulators can safeguard the $10tn CDS market — letter from Bart Chilton

My own experience as a derivatives regulator has taught me that halting nefarious trading practices goes a long way to eliminating confusion and restoring confidence. If that is done, this $10tn market will emerge much stronger.

Today’s opinion

Prince Harry and Meghan’s wedding tests Britain’s royal reflexes Ardent naysayers, fevered fans and insouciant elites are faced with something new

How the west should judge a rising China
Advanced countries are hobbled by their inability to manage their own affairs

AI can help tame America’s exploding healthcare costs Autonomous technology can make clinical decisions, allowing for convenient diagnosis

Free Lunch: The euro needs a unifying politics above all
Biggest challenges are political, not technical

The Big Read: Interview: Serbia’s Vucic insists ‘I’m obsessed with Kosovo’
Once an ultra-nationalist, the president now sees EU membership as a catalyst for reform

FT Alphaville: Bitcoin cash is expanding into the void

Supine shareholders need to stand up to directors
Moves to punish companies generate headlines precisely because they are so rare

The Big Read

The Big Read: Interview: Serbia’s Vucic insists ‘I’m obsessed with Kosovo’
Once an ultra-nationalist, the president now sees EU membership as a catalyst for reform

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