Well the Chinese are sure making some foolish long term bets. I mean investing in interurban and intra urban rail systems. What's worse they are even investing heavily in green technologies, universities, research etc.

The way to go is to spend money fighting endless foreign wars that drain your treasury, increase your dependence on foreign oil, slash education spending and definitely stick your head in the sand when it comes to climate change.

What I don't understand is why the Americans cannot sell their model of economic development to China.