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Did China squander its moment in the sun?
When you look at modern China, you are witnessing something stupendous – a great civilization at the peak of its relative power and effectiveness. Along a few dimensions, modern China is the most impressive civilization humanity has ever built. It has the highest total GDP of any country in history, measured at purchasing power parity. Its manufacturing prowess is unmatched in world history, in relative terms rivaled only by US dominance after World War II. It has a high-speed rail network and an auto industry that put the entire rest of the world in the shade. By some measures, it is now the world’s leading ... (full story)