Are all the companies that are focused on selling to China chasing an overblown promise there?
I think that it's a lose-lose proposition. First of all, if they're successful, they become dependent on China for exports. Then the tail will wag the dog, and American companies will become instruments for Chinese propaganda. Also, only a relatively small group of companies can be very successful that way. It's almost a lottery mentality. But Wall Street wants to know, "What's your China story?" Really, we've simply legitimated authoritarianism for the first time in my lifetime, at least with a major power. Most of my father's life and in my life, the U.S. has been opposing dictators like Hitler and Stalin and the Soviet Union in general. Suddenly we're now illegitimating that because we think we can make a few dollars from it, when in fact there's no pot at the end of the rainbow.
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