Singapore embodies a peculiar mix of the free market, state-led industrialisation and paternalism.
新加坡则奇妙地混合了自由市场，国家主导的工业化和家长式管理。
2
But since the earthquake in Sichuan, the immense state-led rescue effort and the outpouring of charity from the Chinese people has taken center stage.
但自从四川地震以来，国家引导的大救援以及中国民众源源不断的慈善成为舞台的中心。
3
State-led rescues are fraught with moralhazard: what investor wouldn't take on that “liarloan”, knowing that the taxpayer is ready to jump in and help when itall goes wrong?