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I keep hearing this: soon China will overtake USA in terms of global power. China is the next superpower etc.  Almost every newspaper is working hard to convince the rest of the world about the economic potential of China. But I remember that the very same story was making news 20 – 30 years ago except that back than it was about Japan. I do think though that China is indeed rising. But is not even close to these terms. Yes they have almost two trillion dollars in reserves and they have a huge market. And that is pretty much it. The only real advantage they have is the cheap work labor force. They became the world factory. That is not enough. If you aspire to become a superpower like USA you need best technologies you can get, which USA has. Also you need the best universities in the world, which USA has. You need major innovations in all fields, which USA has. And at last but not the least you need global management skills. So the USA always it will bee at least a few hundred steps ahead China. Their technological breakthrough and their inventions will always be so advances, (see the first artificial cell created in laboratory by an American scientist team) that no matter how much socks you sell there is no way to get close to that. So, if China wants to have access to the latest technologies they better start spending some of those dollars.