From an article by Lu Feng of Beijing University, Thomas des Garets Geddes, Ailsa Brown and Kyle Chan (writing in https://substack.com/redirect/e0e05bdd-7cc9-4e19-90ee-048c45d7ec50?) deduce 10 take aways which places the #US #China contest of ideas into current perspectice. Needless to say, within the confines of the arguments put forward by the Chinese scolar, the US comes off the worse in this epic contest. (the following points are lifted verbatum from the article)
1 China's recent economic slowdown reflects policy missteps rather than fundamental structural problems. The country’s long-term growth potential remains strong.
2 The slowdown has been driven in large part by restrictions since the 2010s on traditional industries. Under government directives, these sectors were forced to cut capacity and limit output.
3 Current economic challenges are largely the result of “binary thinking” and restrictive production policies promoted by liberal Chinese economists.
4 Preserving the integrity of China’s industrial system should be regarded as a fundamental national priority.
5 Technological progress is inseparable from industrial development. China’s broad manufacturing base provides it with a lasting advantage in the AI competition with the US.
6 The current geopolitical struggle reflects a deeper systemic contest between financial capitalism in the US and industrial socialism in China.
7 Reindustrialisation is not a feasible path for the United States, whose industrial decline was self-inflicted.
8 Trump aims to rebuild American hegemony, yet it is impossible to sustain global hegemony while attempting reindustrialisation.
9 By imposing tariffs, Trump sought to break the existing global economic system and offload the consequences onto other nations, including America’s allies.
10 The golden age of China’s economic growth lies ahead — provided the leadership discards “binary thinking” and fully activates the potential of its industrial system.
The preponderant #service-based economy (mostly financial services) of the #US is ill prepared for a lenghty war with #China. A short and decisive batlle over #Taiwan aside (highly unlikely), it is even less prepared for an #economic showdown given the 'house of cards' the US economy relies on.