It feels like China hit an inflection point where they can rapidly progress, catch up, and perhaps surpass the US technologically. The road out of “developing country” took forever but now I see them producing great products in basically every industry.
I think this is still a negative for the US though. China’s competitiveness means the Dollar and the US economy aren’t going to be dominant for long, or at least they’ll need to share their position with China. And US influence on the world order has been destroyed in the last year. If all of this continues - China’s progress, the slow erosion of American dominance, etc - then I think America will have to confront serious problems, like how it will deal with debt.
I think this is still a negative for the US though. China’s competitiveness means the Dollar and the US economy aren’t going to be dominant for long, or at least they’ll need to share their position with China. And US influence on the world order has been destroyed in the last year. If all of this continues - China’s progress, the slow erosion of American dominance, etc - then I think America will have to confront serious problems, like how it will deal with debt.