Yves is dead on. Read Sun Tzu’s “The Art of War” and then head over to Elaine’s page at: http://elainemeinelsupkis.typepad.com/money_matters/
for a detailed explanation.

Clausewitz is famous for saying that “war is nothing but the continuation of policy with other means”. Dollars can be used just as effectively as bullets. Bush & Co may be dumb as a box of rocks, but the Chinese leadership, not so much. Remember that every current member of the Chinese Politburo is an engineer.

Enough for now, off to work.

Don’t see your logic here. What purpose will it serve to hurt Chinese economy as well as hurt U.S.? Your statement is purely based on guessing.

January 24, 2008
Technology Indicators: Move Over U.S. – China to be New Driver of World’s Economy and Innovation

A new study of worldwide technological competitiveness suggests China may soon rival the United States as the principal driver of the world’s economy – a position the U.S. has held since the end of World War II. If that happens, it will mark the first time in nearly a century that two nations have competed for leadership as equals.

The study’s indicators predict that China will soon pass the United States in the critical ability to develop basic science and technology, turn those developments into products and services – and then market them to the world. Though China is often seen as just a low-cost producer of manufactured goods, the new “High Tech Indicators” study done by researchers at the Georgia Institute of Technology clearly shows that the Asian powerhouse has much bigger aspirations.

“For the first time in nearly a century, we see leadership in basic research and the economic ability to pursue the benefits of that research – to create and market products based on research – in more than one place on the planet,” said Nils Newman, co-author of the National Science Foundation-supported study. “Since World War II, the United States has been the main driver of the global economy. Now we have a situation in which technology products are going to be appearing in the marketplace that were not developed or commercialized here. We won’t have had any involvement with them and may not even know they are coming.”

Georgia Tech has been gathering the high tech indicators since the mid-1980s, when the concern was which country would be the “next Japan” as a competitive producer and exporter of technology products. The current “HTI-2007” information was gathered for use in the NSF’s biennial report, “Science and Engineering Indicators,” the most recent of which was released January 15.

Full article:
http://gtresearchnews.gatech.edu/newsrelease/high-tech-indicators.htm

Depend on your definition of ‘hegemonic’. Also, it seems to me most of the world are wary of US ‘hegemonic aims’ instead of Chinese, which can be shown in recent public opinion polls.

Maybe US government can learn a trick or two from Communist Party Propoganda machine:)

– Greetings from Shanghai, China