The real China model: Beijing’s enduring formula for wealth and power

Dan Wang and Arthur Kroeber: China’s model has worked because its policymakers have gotten a lot of things right and have given Chinese entrepreneurs the conditions for success. The country may have problems, but it will continue to be effective. And the longer it succeeds, the more the United States and its allies will deindustrialize under pressure from Chinese firms in energy, industrial goods, and perhaps even artificial intelligence. If the United States is to compete effectively, its policymakers must spend less time worrying about how to weaken their rival and more time figuring out how to make their country the best and most vigorous version of itself…