An anti-China American economist? @JohnTamny

Jan 15, 01:43 AM
Image:  Jung gwo jr dzao / Chung-guo chih tsao (made in China) Original label

China Critics Rewrite Basic Economics to Fit a Declinist Narrative.  . . . The article author, Roger W. Robinson, wrote that “the Chinese state is pursuing a ‘Made in China 2025’ strategy designed to dominate key technology sectors—from artificial intelligence and quantum computing to hypersonic missiles and 5G.” [Ronald] Reagan would have had a field day with this. One reason he was so confident in the Soviet Union’s eventual collapse was because he knew state-planning of its economy would fail by definition.  State planning of economic activity doesn’t work on all too many levels, but the main reason it doesn’t is that technological progress is as a rule a consequence of endless failure on the way to breakthroughs that are only arrived at after endless mistake realization.