As in “The U.S. Now Works For Us” (because we lost our faith in the free market while China was encouraging theirs).
Yowsa. That youtube video is going to leave a mark.
China already is more capitalistic in many ways than the U.S. I’ve found copies of Friedman and Ayn Rand on various ministers shelves there (more than I find in the U.S.). And they are actually apologetic when they put the arm on foreign companies for unequal tax and regulatory treatment (v. native firms, and v. our own city and counties who are shameless when it comes to making arguably extra-legal demands on local companies in return for their next building permit). It’s possible to have a free-market without politically free citizens (just look at HK w/ the Brits in charge). And a heavily regulated market like the U.S. has is far from free (where governments and regulators pick winners, often corruptly with the largest of existing businesses.. given Sarbanes Oxley, it’s unlikely we’ll ever see another Google, or an Apple to knock off an Apple or Microsoft).
The slope of infrastructure improvements in China (esp. along the coasts) are all positive in areas where the U.S. is negative. Student quality entering universities. Students earning technical degrees. They sneer at our new-age / Club-of-Rome ill-numeracy and attitudes that have made a faith out of global warming and nonsensical alternative energy schemes that have no hope of competing with fossil fuels at their marginal costs of well less than a penny a kwh (some are plainspoken – they view it as a measure of our societal decay). They have more than twenty universities of the (past) rigor of a Stanford being built, class by class. They are no longer the weak technical partner, and rapidly improving – roughly equivalent today (in the U.S.-sized coastal cities), and if the current slope stands, better in no more than five years. And we tax (regulate and litigate) our high-tech companies to death. They do not (and given that we tax what we want less of, be it cigarettes or (high-paying) jobs, it’ll be no surprise when we do have less of everything related to leading companies).
Guess where Intel will (be forced to – by government tax policy and inadequate U.S. technical graduates limited by immigration policy) locate their next generation (after 22nm) fabs? If they don’t, China Inc (some 1st tier tech company in China, like Huawei) will seize the opportunity and create one itself and put Intel out of business with the strength of the resources they have, that we’ve denied ourselves. To say nothing of the $$ incentives China will provide U.S. corporations to relocate.
I fear for our children. We need to disestablish the central government in terms of all-things-domestic and return these powers and responsibilities to communities of no more than several hundred thousand people and insure they too must compete for the affection of the citizen and their enterprise. Only free-enterprise by a free-people can outperform free-enterprise by a less-than-free people.