Originally Posted by
Guisslapp
Joe Biden’s quote is not really correct, but his spokespersons explanation is:
“As he has many times, Vice President Biden underscored that, whatever challenges we face as a nation, including those posed by a rising China, they pale in comparison to the structural and social challenges that confront China itself," Andrew Bates said in a statement. "Joe Biden believes it's never a good bet to bet against America and the fundamental strength, resilience, and ingenuity of its people."
The stuff about China investing in his son’s defunct hedge fund many years ago is much less relevant today.
China is a competitor, and competes in ways that are unfair by Western standards, but the success of American business depends more on America’s ability to out innovate at an increasing rate in areas of exponential growth technologies, while dealing with the societal challenges and disruption they are going to increasingly cause.