Behold:
On Nov. 8, China is set to hold the 18th National Congress of the Communist Party. We already know who will be the next party leader: Vice President Xi Jinping. What we don’t know is what matters: Does Xi have a “Chinese Dream” that is different from the “American Dream?” Because if Xi’s dream for China’s emerging middle class — 300 million people expected to grow to 800 million by 2025 — is just like the American Dream (a big car, a big house and Big Macs for all) then we need another planet.
Ah, he's back to the single planet thing.
But maybe we'll be fine with just the single planet:
Like generals preparing for the last war instead of the next one, President Barack Obama and Mitt Romney, his Republican challenger, have built their China-related campaign rhetoric around the notion that the Chinese are out to steal American jobs by manipulating exchange rates and heavily subsidizing their booming export industries. But this story of rapid, state-led economic growth is increasingly a thing of the past. As China's economy slows, the real concern for the next U.S. administration should be the potential fallout from a hard landing, including social unrest and political ferment.
Could be. China's growth has been impressive and has lifted many out of poverty. But the idea that they can grow at past rates indefinitely is silly.
Personally, I find the ideas that China must succeed or fail; liberalize or crack down on dissent; or be a friend or foe is too limiting. China is huge. It can have many futures.
It must be a shock to Friedman that China can't reach their version of the American dream with Chinese characters via the Great Green Growth model.
Maybe Friedman can go first in moving beyond accumulation of wealth and stuff, eh?
I'm not saying you couldn't drown in a pool of Thomas Friedman's wisdom, but you would have to be drunk and face down to do so.
Thankfully, there are ways to cope with the man. Look out! He's coming right at us!
