onsdag 24. september 2025

Lawless state capitalism is no answer to China’s rise

It is tempting to frame the Sino-American economic rivalry as a clash between engineering doers and lawyerly naysayers, as the Chinese-Canadian analyst Dan Wang does in his new book Breakneck: China’s Quest to Engineer the Future. This is a false dichotomy, because law is a crucial feature of US capitalism.

We have heard the lawyers-versus-engineers argument before. Forty years ago, Japan’s economic rise induced similar anxieties, most famously articulated in US sociologist Ezra Vogel’s book Japan as Number One: Lessons for America.

Commentators fretted that the US was mired in lawsuits while Japan’s best minds were solving problems and driving their country’s meteoric growth. Yet over the ensuing decades, the US, with its mammoth legal industry, outperformed Japan by a wide margin.