China’s high rate of (reported) economic growth tempts its depiction as a supereconomy that’s figured out a successful alternative to Western-style capitalism. Its ascent to 21st century global economic and technological leadership may by unstoppable, according to this view. A New Cold War is America’s best option to slow that advance, although it probably won’t work. Delay, maybe. Defeat? Good luck.
Yet to quote economist Herbert Stein, “If something cannot go on forever, it will stop.” And maybe that pithy saying offers some insight into China’s future. For instance: A new Bloomberg Businessweek story tells how “mounting discontent among tech workers could hamper the industry’s growth, creating yet another headache for the government.” With the Chinese tech sector slumping, more and more workers are less willing to tolerate “996” shift schedule of 9 a.m. to 9 p.m., six days a week, plus overtime.More