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| National emblem of the People's Republic of China (Photo credit: Wikipedia) |
Remember when --- 20 years ago --- the Japanese where buying stuff in NYC? Everybody thought Japan was going to take over. The US was in decline, Japan was on the rise. We had many wanting, ranging from
http://www.amazon.com/The-Rise-Fall-Great-Powers/dp/0679720197
on the academic front to
http://www.imdb.com/title/tt0107969/
in the realm of entertainment.
And where is Japan today? In its second decade of stagnation.
The Chinese are headed in the same direction:
1. Vastly overbuilt infrastructure
2. An aging population
3. Insufficient jobs now or in the future
My greatest fear about China is that it will implode and suck us all into a black hole with it.
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