Is this the Chinese Century?

American media and historians hailed the 20th century as “the American Century,” as the US helped win two world wars, surpassing the European powers that controlled the global economy for centuries.

Not a few people are claiming that the 21st century, barely a decade old now, will be the century for the People’s Republic of China. With our economic and financial dependence on China, the popular view is that we’ve mortgaged our future to the Chinese, who hold most of our federal government’s debt.

This news article last week in The New York Times dramatically spells out how China is forging ahead of the US on so many fronts. You may be aware that China is overtaking the US as the world’s biggest automotive market, but did you know that it’s also become the world’s biggest market for appliances and desktop computers? Indeed.

Jon Stewart often jokes about “our future Chinese overlords” on his Comedy Central faux news show, but the jokes grow less funny with each passing year.

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Photo by Philip Jägenstedt, used under a Creative Commons license.