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Originally Posted by BlueShoe
For many years liberals have cooed and gurgled over the ChiComs and predicted that they would soon surpass us and become the leading world power. For even more years I have insisted that this is sheer bunk, that they were far behind us in many ways, still had huge problems with more to come, and would never come remotely close to equaling, let alone surpassing, the USA. During the Cold War, when Mao reigned, as part of their propaganda the ChiComs would sneer at us and call us the "Paper Tiger." Today it is Red China that is the Paper Tiger, and it is real, not propaganda. Their power and influence has been grossly overestimated by many, mainly by leftists, a mistake not made by those of us that view things realistically.
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The irony is that the rise of China was due to a capitulation to Capitalism. From my understanding, the providences which do the best are those which have the least interference from Government Officials.
China's biggest problem going forward is that they committed to a merchantilist policy without paying enough attention to internal consumption. Now, their biggest customers are broke and all the Chinese have to show for it is a bunch of paper that a Princeton Professor can print at will.
