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December 28, 2010


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At the height of the Japan hype in the late 1980s, the Japan bubble was getting ready to burst. In hindsight, the 10-15 years that followed were termed Japan's "lost decade". Who still remembers how Japan looked invincible then?

Now that America has started to catch on the China hype, chances are China is getting ready to go down the slope. Widest income gap in the world, over-reliance on fixed asset investment and export, environmental degradation, an archaic and self-degradating political system, and a sea of people that are spiritually empty. However China copes with these challenges, good or bad, it promises to be a hair-raising ride.

As far as America is concerned, there is no harm in seeing in the other nation what it perceives itself lacks. The fact that it can stimulate some debates and provoke some soul-searching, all the better. Twenty years on, few might remember it was China that provided the service.

Thanks for the post! I've been very interested in this topic recently and searching for reading on it. I enjoyed your thoughts. I stumbled upon another blog like I stumbled upon yours. I really enjoyed her take on it: http://www.tchuddle.com/2011/01/a-nation-of-wimps-addendum/

Thanks for your post! I'd like to see more.

Thanks, Dr. Kennedy, for the entertaining read.

Dear Scott, great blog. I had trouble opening the governor's wusses comment. I think that much depends on whose wuss is being gored. Last night I listened to Jerry Brown exhorting Californians to forget their ideological prejudices and work together. Its a great idea but to have it work, there has to be widespread feeling that our system is becoming fairer, e.g., with regard to income distribution. Maybe that doesn't matter to Chinese, if Marty Whyte's book is right, but it certainly matters here.

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