I am very skeptical of any article that boldly claims that China is on the rise and the US is in decline. We’ve been hearing about this decades. People underestimate just how corrupt, dysfunctional, and incompetent the Chinese system is under the CCP. People think the US is worse only because the US is an open country. China’s isolation give it the illusion that it’s better, but in reality, it’s even worse. Every major Chinese achievement from their mass transit system to their big corporations to their economic growth to them pulling ahead technologically to so many more, all come with big asterisks attached that make them much more questionable.
Chinese infrastructure and manufacturing lead is real. You don’t need to believe any propaganda, just travel and observe.
The asterisks are not about their usecase but political.
Chinese infrastructure and manufacturing lead is real.
And if you ignore the theory of comparative advantage, not only is it real, but it also matters. Otherwise, not.
I also run a consistent payment deficit with my barber. Should that be corrected?
No need to discuss defecit. That’s a totally unrelated item. My statement was purely about their infra and manufacturing lead in multiple sectors.
Imagine you are a top student and some other student suddenly gets better marks than you in multiple subjects. You do need to introspect and see where you can improve (Or if you even care about those subjects).
If you don’t care about infra and manufacturing, no need to sweat