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钟建英's avatar

Hi, great article. But I think some of your claims may suffer from “false equivalence”. I really think China doesn’t believe it is in competition with the US when it comes to economic policy. Economists long argued (rightly in my view) that nations do not compete. We benefit when our “rivals” do better. China certainly seeks win-win cooperation through trade and exchange. It’s the US that views the world in zero-sum terms.

So please don’t “legitimise” US perceptions that it is threatened by China’s success. It is not. And let’s resist the current claims (not made by you) that China owes its success to US benevolence. The US benefited economically from China’s membership of the WTO. It was foolish US neglect of American workers that has given rise to labour’s falling share of aggregate income.

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Boogaloo's avatar

China is doing industrial policy better because it still has an industry.

In terms of hard power the USA has already lost. The USA also has no navy building capacity.

Remember, we offshored our industry to China for profit, that was the idea behind globalization.

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