China as No. 1. That’s what most people assume is the future. The U.S. is in inexorable decline, its empire sagging under the weight of its imperial ambitions, like Britain or Rome. China, on the other hand, is the brash, energetic newcomer, more focused, more determined. China’s rise is inevitable. Or so the narrative goes. Easy assumptions about China’s ascent are, well, too easy. The more sober reality is that catching up is hard to do. The U.S. maintains tremendous advantages over China—in wealth, technology and financial heft—that the Chinese may not overcome. Sure, China has been narrowing the gap, … Continue reading The China Challenge: Beijing Faces Long Odds in Quest to Overtake the U.S.
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