American firms rely on Chinese workers to produce their goods and American service sectors count on the Chinese market to generate demand. The two economies have become interdependent. Slate: Given all this potential instability, should the United States explore ways to reduce its economic ties to China? So we’re talking about breaking a historical record within the next 15 years.
The Chinese Communist Party has been in power for 62 years. There is a historical rule: No one-party system has survived beyond the age of 74. This process is going to happen in the next 20 years, regardless of the wishes of the ruling party. They will need to make a smooth transition to democratic governance.
Pei: Their biggest challenge is not in the economic realm. Slate: What will be China’s biggest challenge going forward? So America is a First World country with almost a Third World infrastructure: aging power grids, aging bridges, aging roads, dilapidated airports. has been shortchanging its own economy and people by underinvesting in infrastructure for decades. Let me identify a few obvious areas: infrastructure. You don’t have to look at China to see where America is going wrong. does not do capitalism as well as it used to, or as well as it should. Slate: I was thinking maybe the two systems were just different. If China does not do capitalism better than the U.S., than obviously the U.S. Does that mean America does capitalism better than China? Slate: In the Slate/Intelligence Squared debate on March 13, you’ll argue against the motion that China does capitalism better than America. I recently spoke with Pei over the phone about American and Chinese forms of capitalism and the social forces that are beginning to challenge China’s one-party rule.
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