Earlier quoted context omitted.
China is at the forefront of innovation. America is not, except for financial innovation a.k.a. the best ways to get money out of people without doing actual work.
They’re transitioning to the forefront of innovation, but they’re definitely not at the forefront yet. They’re good at implementing things, not yet innovation. They desperately do need to do that, though, because manufacturing alone isn’t going to grow their economy any further, as wages in China are already becoming high enough that they’re becoming less attractive to foreign investors. They’re strategically well po…
But why does the economy need to grow? If you can manufacture everything you need, and you have access to the raw resources, what else do you need as a country. In what sense is growing your economy with VC scams like Juicero better than actually having industrial output?