A contest for China’s soul is now underway in that giant country, pitting two powerful forces and two very different stances toward the outside world against each other. The outcome will have a major impact on whether China succeeds in becoming a nation capable of having truly constructive and durable relations with the outside world.
On one hand, China’s economic revolution has helped position it in the world as a confident powerhouse of trade, a more responsible global powerbroker, and even as a reassuring military presence. On the other hand, China remains trapped by a past and a mindset steeped in a sense of victimization, which tempts it to export blame for internal problems.
The main question is whether China can escape the pull of this old psychological syndrome – which kept it preoccupied throughout the twentieth century with debilitating sentiments of weakness, insecurity, and humiliation – and allow itself to be guided by a new outlook on the world, and even on old enemies.
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Artificial intelligence is being designed and deployed by corporate America in ways that will disempower and displace workers and degrade the consumer experience, ultimately disappointing most investors. Yet economic history shows that it does not have to be this way.
worry that the technology will be deployed to replace, rather than empower, humans.
Amid labor-supply constraints and economic shocks, the case for productivity-boosting interventions is clear. Unless US policymakers use a combination of investment and incentives to reverse negative productivity trends, the US will achieve modest growth, at best.
urge policymakers to pursue interventions aimed at reducing supply constraints in the non-tradable sector.
A contest for China’s soul is now underway in that giant country, pitting two powerful forces and two very different stances toward the outside world against each other. The outcome will have a major impact on whether China succeeds in becoming a nation capable of having truly constructive and durable relations with the outside world.
On one hand, China’s economic revolution has helped position it in the world as a confident powerhouse of trade, a more responsible global powerbroker, and even as a reassuring military presence. On the other hand, China remains trapped by a past and a mindset steeped in a sense of victimization, which tempts it to export blame for internal problems.
The main question is whether China can escape the pull of this old psychological syndrome – which kept it preoccupied throughout the twentieth century with debilitating sentiments of weakness, insecurity, and humiliation – and allow itself to be guided by a new outlook on the world, and even on old enemies.
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
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