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Warren Buffett

Why China is passing us by

Why China is passing us by

On the surface, it is the best of times in Washington and the worst of times in Beijing. The U.S. capital is a pristine monument to world power; Beijing is cloaked in industrial pollution and dust storms from failed agriculture programs to the west. However, pulling back the cover shows something quite different. Our elected representatives are the progeny of privilege and expect to reap the largesse of government service without serious convictions about the U.S. future; in Beijing their leaders are the offspring of people who survived purges and government upheavals determined to remove 200 years of shame and humiliation at the hands of the West. Simply stated Chinese leaders are more...