What China’s beleaguered president could learn from his visit to the U.S.
Dear President Xi,
Welcome back! The last time you were stateside—at the Sunnylands estate in California a couple of years ago—you seemed to be at the top of your game. China’s GDP was about to overtake America’s. You were cracking down on corruption, liberalizing markets, setting the pace for what you called “the great rejuvenation of the Chinese nation.” Upper East Siders competed to place their toddlers in Mandarin immersion programs. Newspaper columnists fantasized about the U.S. becoming “China for one day.”
Now your stock market has fizzled, your economy is sinking under the weight of unsustainable debts and zombie companies, your neighbors despise you, and every affluent Chinese is getting a second passport and snapping up a foreign home. Even in Beijing, word is out that behind that enigmatic smile you’re a man overmatched by your job. And out of your depth.
Maybe you’re even thinking: Wouldn’t it be nice to be America for one day?
Yes, America, perhaps the only country on earth that can be serially led by second- or third-rate presidents—and somehow always manage to come up trumps (so to speak). America, where half of college-age Americans can’t find New York state on a map—even as those same young Americans lead the world in innovation. America, where Cornel West is celebrated as an intellectual, Miley Cyrus as an artist, Jonathan Franzen as a novelist and Kim Kardashian as a beauty—and yet remains the cultural dynamo of the world.