Noah Smith at Noahpinion:
The 20th century had a bunch of rising powers that all reached their peaks in terms not just of relative military might and economic strength, but of technological and cultural innovation. These included the United States, Japan, Germany, and Russia. So far, the 21st century is a little different, because only one major civilization is hitting its peak right now: China. All the old powers are declining, and India is just beginning to hit its stride.
China’s peak is truly spectacular — a marvel of state capacity and resource mobilization never seen before on this planet. In just a few years, China built more high-speed rail than all other countries in the world combined. Its auto manufacturers are leapfrogging the developed world, seizing leadership in the EV industry of the future. China has produced so many solar panels and batteries that it has driven down the cost to be competitive with fossil fuels — a huge blow against climate change, despite all of China’s massive coal emissions, and a victory for global energy abundance.
More here.
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