China's false dawn

Sure … China’s rising. But if investors think it's catching up with the US, they're dreaming. Here's why

PORTFOLIO POINT: Contrary to everything you might think, since the 1990s China's economic position has in many ways declined relative to the United States. The mismatch between falsehood and reality is not only leading to poor public policy, but could hurt your portfolio.


Like most things in Washington, last week's State of the Union address by Barack Obama was widely seen as a re-election manifesto. To different commentators that 75-minute manifesto was about different things – inequality, balanced budgets, military power, energy security – but according to the computers at the Washington Post, his entire platform could be summed up in two words: American jobs.

Most commonly used words in Obama's State of the Union

Source: Washington Post, Wordle

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