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China Chic: An Economic Development Forecast

This week's New Yorker cover depicting Barak and Michelle Obama as Muslim terrorists is certainly controversial -- with die-hard liberal friends like this editorial board, who needs enemies? -- but the magazine's content isn't exactly plain vanilla either. 

Patricia Marx shops Shanghai, extolling the virtues of fraudulent goods of all varieties:  custom-made knockoffs, fakes sufficiently convincing to appeal to the likes of Yao Ming and Celine Dion, and the usual range of misspelled counterfeits.  The take-away quote comes from "a sage in her twenties" who told the reporter, "In Los Angeles they have real Birkin bags and fake boobs.  In Shanghai, it's the other way around.

But given global economic trends, that's only a matter of time.