Not to mention that it's not just the U.S. and China competing in a vacuum. China's real economic threat is on the low-end. As they've boomed and their labor has become more expensive, many foreign companies are re-offshoring elsewhere.
Also let's keep in mind that we have yet to see all the effects of the unprecendented demographic experiment of the one-child policy. They will be dealing with an aging population on a scale never seen before.
Finally, the U.S. has a lot going for it when compared with its developed peers - growing population, attractive to immigrants, and a culture of entrepreneurialism and risk-taking (which Sam seems to think is in decline...not sure I see the same thing).
When China's elites stop wanting to send their children to U.S. universities and find ways to get their capital off the mainland, then I'll worry.
Also let's keep in mind that we have yet to see all the effects of the unprecendented demographic experiment of the one-child policy. They will be dealing with an aging population on a scale never seen before.
Finally, the U.S. has a lot going for it when compared with its developed peers - growing population, attractive to immigrants, and a culture of entrepreneurialism and risk-taking (which Sam seems to think is in decline...not sure I see the same thing).
When China's elites stop wanting to send their children to U.S. universities and find ways to get their capital off the mainland, then I'll worry.