Where Did It All Go Wrong with the US and China?

Austin Groves and Paul Schulte

Chapter 2 in The Race for 5G Supremacy:Why China Is Surging, Where Millennials Struggle, & How America Can Prevail, 2020, pp 15-31 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In analyzing the path to digital commerce for both the US and China, we do not want to criticize America or to praise China or anywhere else. Every country has its own social, economic, and educational problems. The US is still in a position to be a dominant player in the world for decades to come. But, the US needs to wake up to the fact that EVERY country in the world, especially China, is coming to eat America’s lunch. They are doing this for one simple reason: to make a better life for themselves and their children as well as to take care of their parents in old age. India is also a juggernaut in this respect. Other cities like Jakarta, London, Singapore, Barcelona, Sydney, Dublin, Amsterdam, Berlin, and Seoul are on the cutting edge of technological development led largely by millennials. There are even “long shot” cities which are now coming alive with millennial vibrancy — Bucharest, Manila, Dhaka, Dubai, Nairobi, and Lagos. They will not stop…

Keywords: AI; 5G; Alibaba; Ecommerce; China; Trade War; Smart Cities; Millennials; Mental Health (search for similar items in EconPapers)
JEL-codes: F02 L26 O14 O30 (search for similar items in EconPapers)
Date: 2020
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