$100bn is a small price to pay unless we're willing to be rich but without influence, like say Japan.
The era of unchallenged US supremacy is over. (I'd say the change began when China joined the WTO). Our GDP is 20 $trillion, China's is closing in, already at $12t. Given our population we're unlikely to hang on to the #1 GDP spot. So we…
$100bn is a small price to pay unless we're willing to be rich but without influence, like say Japan.
The era of unchallenged US supremacy is over. (I'd say the change began when China joined the WTO). Our GDP is 20 $trillion, China's is closing in, already at $12t. Given our population we're unlikely to hang on to the #1 GDP spot. So we need to help allies and challenge competitors when needed - If we don't put up then we're giving up.
$100bn is a small price to pay unless we're willing to be rich but without influence, like say Japan.
The era of unchallenged US supremacy is over. (I'd say the change began when China joined the WTO). Our GDP is 20 $trillion, China's is closing in, already at $12t. Given our population we're unlikely to hang on to the #1 GDP spot. So we need to help allies and challenge competitors when needed - If we don't put up then we're giving up.
I agree, EP. you make a great point about China joining the WTO being a really key and underappreciated turning point.