Originally Posted by mynameisjim

The entire Chinese economy is so last century. America is struggling right now and a big part is because we are transitioning from last centuries economy to a new economy, one that is still an evolving target. But anyone who thinks that giant factories producing products is the "future" is just totally out of touch with reality.

Intellectual property is a big part of it as well. With such loose IP rules, anyone in China with a good idea will come to America (or Europe) to start their business. If they stay in China, their idea will just be stolen and they will make no money. So basically, anyone in China with a groundbreaking idea ends up leaving. People boast about all the PHDs being trained in China, but guess what, they will all come to America or go to Europe and benefit those countries, not China. That's another reason why I hate that America is becoming somewhat xenophobic. When you attract the smartest people from around the world, you don't have to worry about being number one, it just happens by itself. We should always welcome foreigners, it keeps us on top. For example, Google and Intel were both started by foreigners, but America benefits when they come here to set up shop.