Mostly correct! This guy lives in China and knows his stuff. In addition to productivity, Chinese are perhaps more motivated for fortune than any other nations combined. This drives up productivity and willingness to take any orders from overseas.
Myth No. 1: China is primed for an Arab spring. There is no Arab Spring on the horizon, as Senator John McCain declared last week.
The major difference between China’s government and regimes like Mubarak’s in Egypt or Qaddafi’s in Libya is that there is far more diffusion of power than many Western observers realize.
Myth No. 2: China is stealing American jobs by manipulating its currency. In reality those arguments don’t hold up to even basic scrutiny. Quite simply, China has become the world’s manufacturing hub because of efficient labor forces and superior infrastructure.
Even with China’s labor supply getting far more expensive—21 of China’s 31 provinces increased their minimum wage by an average of 22% in 2011—it is unlikely that lower wages in other countries will offset the benefits of China’s productivity and infrastructure anytime soon.
Myth No. 3: China is trying to upend the world order.
In fact, China prefers to downplay its power. It would rather take a free ride as America serves as the policeman of the world.