country's economic development. Without a correct social system in place, economic development for a country can only go so far. Like today's China, it appears to have been leaping forward in so called "Chinese year", i.e., 4 Chinese year equal to 1 US year. But deeper, you need to realize is that this fast leap forward is based on not having to go through the painful years of early capitalism that USA and European countries had to go trough in the last century. China simply enjoyed the luxury of jumping start its faked capitalism overnight. However, after this flashy and easy period is gone, China will have to face its fundamental bottle neck, that is, the social mindset didn't improve with its newly gained materialism. The social mindset can't be changed overnight, China's social mindset remains deeply rooted in feudalism. The fast leap-forward of last 20 years is very problem masking. It numbed less observing people to think that China is lucky this time. No, in this world, there is no pure luck. Even more troublesome and related is Chinese ultra-low respect for social, capital usage and knowledge efficiency. Eventually, China will have to face this bottle neck. Of course, over the very long term, China will be able to slowly undo this feudalism, and slowly adopting efficient capitalism, including respect for legal system, private properties and can self initiate world dominating innovations. But that's gonna take a long time. Your children may see it, probably not us. Until then, China will keep prospering, with intermittent debacles of all kinds. Within the next 50 years, I am seeing a fast-learning China with continued prosperity, at the same time, a continued prosperity for the USA thanks to unprecedented opportunities opening up in China.
A win-win future.
A win-win future.
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