China has already reaped all the easy growth that comes with starting from a low base, and now it needs to, among other things, encourage consumption, allow the renminbi to float, flatten the social structure, promote democratization, remove restrictions on labor, adopt the rule of law, and strengthen the social safety net.

FORBES: Don't Worry About China: World Bank Chief Economist

The delegation included experts on labor rights and economic development, rule of law and political reform, ethnic conflict and reconciliation, land-mine removal, and criminal justice.

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Argentina has never been able to shake peronismo, which replaced the rule of law with governance by a troika of big labor, domestic producers and a corrupt political class.

WSJ: O'Grady: Venezuela After Ch��vez

After decades of literally throwing money at the problem of global poverty, the emphasis has switched to securing property rights, buttressing the rule of law and allowing the world's workers to profit from their labor and retain its rewards.

CNN: McCain's August 6, 2007, speech addressing private property rights

The bailouts signaled that major companies with union labor are too politically big to fail and undermined confidence in the rule of law.

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