The U.S. Tech Industry Needs China

The U.S. economy of the 1970s was, in certain ways, quite similar to the U.S. economy today: rising inflation, a population broadly pessimistic about the future of the market, and persistent declines in overall productivity. There was also, back then, a growing economic threat from across the Pacific. Only, in the 1970s, the threat came from Japan, which was the subject of dozens of books, and even a handful of movies, as fears of it overtaking the U.S. as the world’s economic superpower loomed large.

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