2. History will look back on 2012 as the year when China anointed its "fifth generation" of leaders and shifted to a slower growth trajectory, writes Yukon Huang. This transition will take place against a backdrop of daunting internal challenges — increasing social unrest, widening income disparities and both ecological and man-made disasters — and of escalating external tensions, stemming from America's "pivot" to Asia and simmering regional worries about China's economic rise.
3. The U.S. Congress and the media will go berserk when Goldman announces the size of its 2009 bonus pool. But the outrage will be brief and of little lasting consequence. The 'hate Goldman Sachs' story has been running just too long.