Posted on 06/18/2020 2:48:22 PM PDT by SeekAndFind
What if the U.S. had the economic equivalent of a Sputnik moment and the White House failed to notice?
This, unfortunately, is now more a rhetorical question than an active one.
Admittedly, it’s become a cliché to compare this or that shock to how the Soviet Union’s 1957 satellite launch rocked America. But economist Richard Duncan has a point that Beijing’s aggressive investments in 5G and other technologies, with President Donald Trump focused on bringing back coal, is its own “national emergency.”
“There is no mystery as to why China will soon overtake the U.S. as the world’s leading technological, economic and military superpower if current trends continue,” says Duncan, author of The New Depression: The Breakdown Of The Paper Money Economy. Ultimately, he says, “there’s only one way for the U.S. to retain its global preeminence: it must invest more than China.”
How much? Duncan reckons about $8 trillion over 10 years. Top investment targets are artificial intelligence, biotech, genetic engineering, green energy, nanotechnology, neural sciences, quantum computing and robotics.
This, of course, is an unthinkable amount of money. But since January 2017, President Trump has made it easy for China to Sputnik the globe’s biggest economy.
The popular narrative is that Trump, by taking on Beijing like no other U.S. leader before, is leveling the playing field and scoring wins for American workers. That might’ve been true in 1985, when blunt instruments like tariffs turned economic tides. In 2020, an old-school trade war only works if you’re simultaneously building economic muscle. For all his wannabe strongman theatrics, Trump’s complacency is weakening America’s endurance while China raises its game.
China has daunting challenges. Not least of them is slowing growth, runaway debt and a geopolitical confrontation of choice over Hong Kong. Yet Beijing is multitasking in ways Washington isn’t.
(Excerpt) Read more at forbes.com ...
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China already has a larger middle class than the U.S. does.
Forbes is liberal, fake republican mag...used to be a great investment read, but now it is just a “keep up with the Kardashians “ equivalent.
At the expense of the United States Middle Class
Just imagine if President Trump was allowed to lead
We should be kicking their butts right now
Togo is just $21T away from eclipsing the Trump’s Economy.
Wishville must overwhelm reality.
Forbes is liberal, fake republican mag...used to be a great investment read, but now it is just a “keep up with the Kardashians “ equivalent.
I dced my subscription to Forbes when GW was president, and their true colors (commie red) became obvious.
The “before” the Chinese caused Kung Flu and Democrat caused BLM Trump’s Economy or the “after” Chinese caused Kung Flu and Democrat caused BLM Trump’s Economy?
China is already ahead of the U.S. technologically, such as having a cashless society where everything is done on your smartphone. Unfortunately, much of that technology is used to spy on and control its people.
“What if the U.S. had the economic equivalent of a Sputnik moment and the White House failed to notice?”
You mean like Slow Joe, who said last year that he told Obama “China is not our problem”?
Togo is just $21T away from eclipsing the Trump’s Economy.
BOL!!!
No mystery because we know the answer: they steal our intellectual property, they steal our weapons technology, then they replicate it all cheaper than we can make it because of slave labor.
The problem with being a culture that is fantastic at reverse engineering other people's ideas is that you can't really ever surpass then unless you get some of your own good ideas. What good ideas have come out of china in the past 25 years?
I wonder just how much China paid for this story.
Notice the headline says “Trump’s economy” and not “US economy”. That tells you what the motivation is for writing the article.
It is simple. We have committed national suicide. Self inflicted wounds out the yang. And I doubt it will get much better.
At last! Our CCP paymasters work is bearing fruit!
Excellent. We can stop providing foreign aid to every damn country in the world, and explain that China is richer than we are now, so go ask them.
China is old old old and not rich. From the American Enterprise Institute, read Nicholas Eberstadt’s exhaustive but readable take on China demographics:
https://www.aei.org/research-products/report/chinas-demographic-outlook-to-2040-and-its-implications-an-overview/
Xi Jinping is the world’s worst actor but he overextended badly, trying in his international affairs to compensate for the devastation created by the one child policy. When Trump came to office, his plans went south, and he is suddenly very badly injured and exposed.
Xi is gravely dangerous not because he will take over the world, but because he is badly wounded and as vicious as any animal ever.
Stupid cheerleaders at Forbes for the communists
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