I'm tired of read stupid things about economy in the internet and talking to people in real life that don't have a clue about it but, somehow, they feel entitled to give their ignorant opinion.
People in Spain are specially illiterate about economic matters, and moreover, they have a tendency to hate the USA, something very understandable given their leftist tendencies, that is, given their laziness and mediocrity (on average, of course). I mean, I'm tired of reading/listening to things like the one in the original post.
What really pisses me off is looking at the USA disintegrate into an European style social-democracy, losing the few moral values that still remained and made them the greatest nation in history. And no american in this forum or any other is able to raise their voice and say a thing. Whatever.
China is not kicking anybody ass. They are still poor. They are growing very very fast, but of course, it's easier to grow at 10% when your economy is like the USA's 1960 economy in terms of size.
When they reach the status of a west power in terms of income per capita, it will be another matter. IF that happens. And of course, by then, they won't be growing at 10%. It would be desirable for humanity, though.
@Stonebat: First of all... have we ever had a true free market? >>>>>>>>>> No, but still, fundamentally our economy is far less regulated and centralized than China's.