"In 1982 reform minded communist leaders created a small free trade zone across the border from Hong Kong as an experiment. The rest, as they say, is history. For the next thirty years China’s economy sustained a torrid pace of development exceeding 10 percent per year.
In one generation China lifted several hundred million people out of poverty. It is a remarkable national achievement and a testament to the wealth creating potential of free markets.
But for all China’s new found economic power,
many progressive leaders in China are not so confident they can keep their economic miracle from slipping through their fingers. For all its new found wealth, China’s government is pervasively corrupt. Blatant cheating is rampant at Chinese universities, and bribes paid to government officials are still shrugged off as just another cost of doing business
So before we start worrying about a new heavyweight contender looking for a title shot against Uncle Sam, we should realize what
some really smart people in China are already starting to figure out. In the race for economic dominance, the U.S. has an ultimate secret weapon that the Chinese may never be able to match."For all our faults, we are still the envy of the world for two things. A functioning civil service that is largely free of corruption and the great democratizing influence of a public education system that provides broad access to higher education based on meritorious achievement.http://www.parkrapidsenterprise.com/event/article/id/24928/We are not unique in terms of a "functioning civil service that is largely free of corruption" and "the great democratizing influence of a public education system that provides broad access to higher education based on meritorious achievement" seems a bit overstated compared to Europe and other developed countries. However, I can see that both are a relative advantage compared to what China has at present.