In the seventies and eighties the world was turning Japanese and the same phobia with fears that the Japanese would own the world existed like they now do about China.
Look at Japan now, companies that need proping up, an economy that has stagnated for 10 years, an inept Government.
The economic growth in China will not last forever.As standards of living improve in China they will start to loose their competive edge and then things return to an equilibrium.
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