IMHO the author has no clue of which he speaks.
Quoting here:
“China’s political stability may be more fragile than thought. The country faces huge domestic challenges — an aging population lacking any form of social security,...”
The author then rolls out a version of that ubiquitous, over-used tired fortune cookie curse “may you live in interesting times”. How profound.
(yes, sarcasm intended)
I doubt the author is familar with the more appropriate term: “Iron Rice Bowl”. The Chinese system, is itself a gigantic social security program.
It’s a pandering, “nothing to see here” puff piece. Yet more pablum, from those who send our jobs and industry overseas, for a few dollars more.
China is a huge, growing dragon. A very powerful, very cunning, and very resourceful dragon.
Pretending otherwise, is dangerously, traitorously foolish.
This sort of naive puff, helps nobody.
We need to open our eyes. Now.
“when you are strong, appear weak, when you are weak, appear strong. When near appear far away, when far away appear near”
Sun Tzu, ‘Art of War’.
While you may be right, past performance could be an indication of their style of cunning and resourcefulness.
For example; the Chinese leased Hong Kong to the British for 200 years. After Britain made Hong Kong and economic powerhouse China retook possession.
The opinion piece indicated that China's overtaking of the USA in economic productivity may be a decade into the future rather than now...not that it wouldn't happen.
Meanwhile, I think China's biggest impending problem is the rapidly growing gender gap. There are just too many boys for too few girls...social unrest is inevitable.