The Chinese, I heard, have several major advantages over us. They have a government that has no compunctions about picking economic winners and pouring tens of billions of dollars — $60-billion in aerospace alone — into the sectors it’s betting on. Unlike ours, their government has a “strategic vision” for the Chinese economy. They have five-year plans. (Of course they have five-year plans, I couldn’t help but interject. They’re communists! Five-year plans is what communists do.)
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