New at Reason: Ronald Bailey on Overblown Fears About China’s Economic Power

November 24, 2011

Thirty years ago, an influential claque of alarmists predicted that Japan would soon economically overtake and crush the United States. In fact, just as the hysteria reached fever pitch, Japan's bubble economy burst and the country has struggled with a stagnant economy ever since. The new bugaboo is fast-growing China. Reason Science Correspondent Ronald Bailey parses the numbers and concludes that China as Number One is a few decades off—at least.

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