More than a decade after China’s explosive growth began to trigger news headlines in the West, there remain two distinct schools of thought.

In one camp are those who say China’s continued ascent — and its eventual crowning as the world’s largest economy — is inevitable.

In the other are those who see the recent decline of the U.S. economy, and Uncle Sam’s reduced stature globally, as a mere historical blip, and that the idea of “American exceptionalism” (i.e., the spread of U.S. democratic ideals and free market principles) will soon reassert itself.

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