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"Fears of an unstoppable Chinese juggernaut are misplaced or outdated," writes Patrick Chovanec,...
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Sunday, August 19, 2012, 7:08 PM ET"Fears of an unstoppable Chinese juggernaut are misplaced or outdated," writes Patrick Chovanec, urging to instead focus on a country stumbling badly and not knowing what to do next. How might the next President respond to a devaluation of the yuan, continued dumping of excess steel and other products, or even an escalation of military tension in the South China Sea (as Beijing tries to shift attention away from domestic issues).
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Compare that to our current leadership in Congress and the White House. Trillions upon trillions spent - and how much on actual things that are for future development?
If China continues to promote economic freedom, followed by personal freedom they will do well. Just as if the USA continues to restrict economic freedom and personal freedoms we will continue to stagnate. I'd say that currently hard work and effort is highly respected in China, while I'd say its under attack by a growing segment of the population in the USA. Perhaps these are momentary situations in the course of history, but recent trends aren't so clear-cut in our favor IMO.