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China has been touting its “authoritarian state capitalism,” but that's oxymoronic: Capitalism is a free market

Reevaluating China's Economic Ascendancy: Lessons From Past Overhyped Predictions


By Epoch Times ——--August 28, 2023

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It won't come as a surprise to most Epoch Times readers to note that the long inescapable truism that China was about to emerge as the greatest economic power in the world has mercifully ceased.

More venerable observers will recall that practically the same thing was said about Japan, until that country's tremendous economic advance hit the wall about 30 years ago. Some will remember the condescension of Japanese Prime Minister Kiichi Miyazawa to U.S. President George H.W. Bush about American relative economic decline, when President Bush visited Tokyo in 1992. ---More...


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