Why will China succeed?

Credit: The Financial Times

Good Governance

Meritocracy

Though Americans have invariably prided themselves on the non-existent ‘Bad Emperor Problem’ that China might have, sad to say, the U.S. Presidential polls are, in fact, elections without discretion.

Long-Term Vision

Credit: The Economist
Credit: National Science Foundation (USA)

The biggest mistake that America could make is to step up its military deployments in East Asia to balance a resurgent China. The more America spends on military expenses, the less effective it will be in the long run in dealing with a far stronger and bigger Chinese economy. In 2015, America spent 3.3 per cent of its GDP on defence; China spent only 1.9 per cent.

Ironically, [China would be] privately happy that America focuses on military solutions while it focuses on economic development.

Government of the People, by the People, for the People

…elite business interests — financiers, in the case of the U.S. — played a central role in creating the crisis, making ever-larger gambles, with the implicit backing of the government, until the inevitable collapse. More alarming, they are now using their influence to prevent precisely the sorts of reforms that are needed, and fast, to pull the economy out of its nosedive. The government seems helpless, or unwilling, to act against them.

America’s exceptionalism is nothing more than a jingle if moneyocracy is justified.

Final Thoughts

Democracy is a flexbile living organism that ought to continuously mature.

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