After Japan’s anemic 0.1% economic growth in the 2Q, China has now supplanted its ancient rival as the world’s second-largest economy marking another milestone in the country’s transformation from an impoverished ‘Third World’ communist state to global economic superpower, and carries with it broad geopolitical implications.
While it appears that China’s success and emergence is unsettling to many and is becoming the source of American angst toward China, rather than resent the shift of economic power from West to East, we may have something to learn from their ancient civilization.
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