According to a recent Globaltimes piece, which criticizes America’s “unpredictable” policy trajectory, America is declining and it will be overtaken by a rising China. America is still rising, not declining. Back in 1979, In Japan as Number One: Lessons for America, Ezra Vogel argued that an ascending Japan was ready to overtake a faltering America. China doesn’t share the same demographic problems that added to Japan’s economic growth woes. For an obvious reason: China has yet to develop the institutions and policies that support a consumer economy.

Source: Forbes August 19, 2018 06:00 UTC