Analysis highlights the risks of policy failures for China and the USA, pointing to the impact of economic freedom and trade agreements.
Whether America or China wins this competition depends on the avoidance of major policy failures. In China, the major challenge is that the regime must not forget the productivity of economic freedom and the benefits of decentralized decision-making. In America, the challenge currently is that the government must not forget the benefits of free trade and the value of foreign alliances.
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Erich Weede (2025) studied this question.
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