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It’s almost as American as apple pie — the idea that we’re being beaten by less-democratic, more-state-controlled economies. In the past, it was Germany, then the USSR, then Japan. Now? It’s China.
But Scott Lincicome, Director of General Economics & Trade at the Cato Institute and an adjunct professor at Duke University Law, says China is facing serious problems in their economy.
if the last year‐plus has taught us anything, it’s that the greatest threats to America today don’t come from China or any other foreign country, but from our own policy action (or inaction) on trade, immigration, antitrust, individual rights, and other areas—mistakes that close us off from the world; inhibit dynamism and competition; empower central planners; and punish our most successful and innovative firms. Mistakes that are driven by a groundless lack of confidence in the American system (and the people living and working within it). The pessimists all seem to want to make America less American, and—as the “China Threat” withers like others before it—it’s long past time we ask them, “But why?”
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