| Other things in the paper > AMERICANS, and friends of America, often reassure themselves about its relative decline in the following way The decline is a myth; US is doing really well. US has a 3% gdp growth, which is huge when you realize the base is 19 Trillion! Contrast that with China, whose provinces just announced 20-30% fake revenue and putting the funny consistent 7% gdp growth in realm of accounting fraud. > Uncle Sam may have ceded the top spot to China in exports in 2007, and manufacturing in 2011 Not with all of the protectionism and tariffs coming to hit China, from US, EU, and Japan. China can't get around import tariffs by shipping from Vietnam, South Korea, or Africa anymore. Solar panel and refrigerators now, steel and aluminum next. Apple's 300B investment amongst others will revitalize US manufacturing. > China’s unicorns, a proxy for the next generation of giants, are in total worth 69% of America’s, Xiaomi's 40B unicorn valuation is all the way from 2014. It's losing to Oppo and Huawei in China. Meituan Dianping is burning cash rapidly like Uber, same as Didi Chuxing. |