How China Plans to Leapfrog U.S. Economy (and It Involves Rare Earths)

Ian Fletcher submits:

Many Americans already are concerned about China?s growing economic challenge to the United States. Indeed, the challenge itself is hardly news anymore. But a new book, Red Alert by Stephen Leeb, argues that Americans have radically misunderstood just what this challenge consists of.

Everyone who has ?woken up? to the problem (i.e. not the administration, the U.S. Chamber of Commerce or the Republican leadership) understands the threat posed by China?s cheap labor and low standards for everything from child labor to environmental protection. Most people who aren?t hopeless laissez-faire ideologues are twigging to the fact that China?s state-directed capitalism is running rings around America?s private-sector capitalism. But what few people realize is that China has an even more radical economic strategy up its sleeve, a strategy that aims not just to equal the United States but to surpass it and quite possibly shut America out of the economic future.

The

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