There was once a prevailing belief that China would soon surpass the
U.S. economically. Nowadays, however, various think tanks update their projections,
thus constituting a consensus that such an outrun is not imminent while some other
analysts arguing it may never occur. For instance, Capital Economics has posited that
considering the demographic shifts China will not overtake the U.S. for good unless it
does so during the 2030s. Though the 'Thucydides Trap' theory, which suggests an inevitable
clash between a reigning superpower and an emerging contender, was much
banded about amid the intensifying strategic rivalry between the two giants, it is right
time to revisit its tenability. In a nutshell, the theory lacks pertinence in either 'Peak
China' or 'Post-China' context. With such internal problems as diminishing social cohesion,
flawed governance, forceful income distribution policies, and widespread corruption,
China seems unlikely to either outrun the U.S. economically or achieve broader
national ambitions. This is why the China Dream is likely to end up as a daydream. Now
is the time to get prepared against risks Post-China era will give rise to.