Is it possible that Chinese government in its pursuit to overcome its economic competitors in Asia and the West has copied the same systematic mistakes that led to the economic meltdown of the past five years? The rapid rise of the Chinese has fuelled the imagination of economic speculators who have predicted the dominance of the Middle Kingdom in the next century. Indeed, the thriving Chinese economy is flexing its newfound muscles in both financial and military sectors. The Chinese military budget has seen double-digit increases for the past decade. However, the dramatic paranoid reaction to a feared "jasmine Revolution" on China's own soil betrays the Chinese government's external swagger, as well as a fear of its own population. The Washington Post reported that:
Economists and bankers are warning that the glittering prosperity of China might be nothing more than an illusion. Apart from their high military spending, China's drive for modernity also consists of expanding their high-speed railway system and big ticket housing and commercial real estate construction projects that are largely empty do not benefit the Chinese people.