How China will finally beat the United States of America

I look at it as a government and economy being inclusive versus being extractive. This was the main thesis of the book Why Nations Fail.

The question of work styles may become intense as China becomes a developed country. China is a mercantilist country led by an elite focused on maximizing the country’s economic wealth and dominance. The U.S. is different in that it tries to maximize its elites wealth (via Congress), but not the country’s wealth (i.e. its people’s potential). A mercantilist country could out perform elites who are more focused extracting wealth from its people then developing them. This contradiction will make for increasing political fractures in the U. S. I’m not saying China is a paragon of democracy or that the U.S. is an authoritarian regime, but our economic system is rife with inequality and it extracts wealth from one class, those in the 99 percent, to give to those in the 1 percent and the 0.1 percent. If China is truly focused on maximizing wealth for the entire country and not just its elites, then we will see much different country in the next 50 years as compared to the United States. via The Future of Work.

Photo by Christian Junker – AHKGAP

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