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Marc Joffe: Have We Reached Peak China?

If so, some may need to reconsider their admiration for autocratic technocracies and learn to love the untidiness of competing ideas. China’s ascension to world domination may not be as inevitable as many of us think and fear. Events of the last year have revealed significant vulnerabilities within the country, which could foreshadow a period of economic stagnation, reminiscent of what Japan began to experience in the 1990s. If that happens, American pundits may need to rethink their admiration of China’s decisive form of technocratic closed-loop governance.

Those of us who were around in the 1980s will recall the literature celebrating Japan’s economic might and projecting that the “Land of the Rising Sun” would soon eclipse America as the world’s dominant economy. ...

Marc Joffe is a senior policy analyst at Reason Foundation.

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Posted: May 17, 2022 Tuesday 06:30 AM