For over 120 years the United States has maintained the largest economy in the world and has been a leader in innovation, manufacturing, and capital investment. After World War II, the United States emerged as one of the world’s two superpowers, and the collapse of the Soviet Union in the early 1991 proved that capitalism was a vastly superior system to communism. However, in recent years China has emerged as a rival power to the U.S., with analysts estimating that the Chinese economy could eclipse the American economy as early 2018.
Tomorrow on Intelligence Squared U.S. Debates, four economists will debate the notion that China does capitalism better than America. While you consider your own stance on the matter, watch this discussion with author and New York Times columnist Thomas Friedman on how China has spurned Maoism for Deng Xiaoping’s socialism with Chinese characteristics and American “Reaganism:”