In the US corporations have supreme power, the government answers to corporations (cemented into real law with the citizens united ruling).
In China it is the government with supreme power, where corporations answer to the government.
China is out performing us precisely because the government holds power over corporations and therefore corporations don't have the ability to compete on power alone. Competing on power alone leads to stagnation as they can destroy challengers rather than out innovate them. In China businesses are working towards state ambitions, while in the US the state is (was) working for corporate ambitions.
Xi was notorious for a corruption crackdown that consolidated his power as supreme ruler of China, but in China things can be built on a scale that is completely unimaginable in the US. We can barely link two seconds of a city with mass transit, while china has no problem punching through mountain after mountain to link two cities with rail.
In China it is the government with supreme power, where corporations answer to the government.
China is out performing us precisely because the government holds power over corporations and therefore corporations don't have the ability to compete on power alone. Competing on power alone leads to stagnation as they can destroy challengers rather than out innovate them. In China businesses are working towards state ambitions, while in the US the state is (was) working for corporate ambitions.
Xi was notorious for a corruption crackdown that consolidated his power as supreme ruler of China, but in China things can be built on a scale that is completely unimaginable in the US. We can barely link two seconds of a city with mass transit, while china has no problem punching through mountain after mountain to link two cities with rail.