China

        China’s economy is growing fast.  The average Chinese consumes 17 times more today than in 1987.  The Chinese economy will probably surpass the United States in the next decade. 

        The Chinese don’t play fair.  They take advantage of our lenient trade policies.  They own 5% of our debt.  They manipulate our currency.  They steal or demand that we give them our technology. 

        The Chinese government has made significant capital investments in order to dominate individual industries.   China’s share of high tech exports has risen from 5% in 1999 to 25% today.  Chinese telecommunication companies are building and rebuilding broadband networks in countries around the world. Will China become the next world leader?

        One of the major ways China is beating the U.S. is in education.  In China, people are schooled and promoted based on intelligence and knowledge.  Social and economic status is not a factor.   Their leaders are smart.  There are no idiots like Nancy Pelosi and Maxine Waters in positions of political power.

        Their schools also teach useful knowledge.  In the U.S. today, 6% to 7% of students major in engineering, while 30% to 40% do in China.  In science, technology, engineering, and mathematics, China produces four times as many bachelor degrees and twice as many PHDs as the United States.

        The U.S. awards too many liberal arts degrees that have little or not value.  Our educational system has also declined.  We award higher grade points, but the quality of education is no longer something to be envied compared to other countries.  The only thing the educational system seems to do really well is indoctrinate the students to a liberal ideology. 

        One of our great founding fathers, John Adams, wrote this to his wife during the Revolutionary War:

“I must study politics and war, that my sons may have the liberty to study mathematics and philosophy, geography, natural history, navel architecture, navigation, commerce, and agriculture, in order to give their children a right to study painting, poetry, music, architecture, statuary, tapestry, and porcelain.”

        John Adams would be very dismayed to see how our educational system has evolved.  In some high tech industries, employers are forced to hire people who are not US citizens, because there is a scarcity of American candidates.  This creates problems with security clearances for work on classified government contracts. 

        Pepsi became a major player in the cola industry by attacking Coca-Cola’s large capital investment in the 7oz bottle.  Coke had millions of these bottles and thousands of machines that only dispensed the 7oz bottle.  They could not react fast enough when Pepsi came out with the 10oz bottle.

        America has strengths that China does not have, but we have to educate people so they can emulate the entrepreneurs who made this country great.  With innovation, we can make the large capital investments China has made in heavy industry obsolete.  We turned the Russian economy into junk when we invented the fast, small, inexpensive, microchips during the Reagan economy.  We can do it again. 

        Much of this information is taken from a speech given by David P. Goldman and covered in Hillsdale College’s Imprints.  Goldman is a columnist for Asia Times.

God bless President Trump and guide him to make America great again. 

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