Don't Americans work more hours and receive less vacations than almost all other industrial nations. Also someone mentioned ealier in this thread that if a country cannot even have running water or enough food for its population how can they be catching up economically. China would be the perfect example of this, were with all the investment and "improvements" in China, the Communist party rules that country less for the protection of the ideals of Marx and Mao Zedong and more for the protection of the ruling elites in the party while the rest of the population lives in poverty. The same thing could be said for alot of these countries were American jobs get outsourced to.
Well yes Americans work more hours/live to work, but that concept is a pretty old one that is used to differentiate Europe and America really.
As for China, yes, they are getting stronger militarily and economically. However, they are just screwing themselves over with their excessive spending on their military and massive material consumption when they have no such funds[?] for real social reform like healthcare for a huge aging population. I mean if you say America has got it bad when it comes to a comprehensive healthcare system, we're lucky as hell to even have such an institution or close enough.
Eventually, the Chinese will face the problems we face with a capitolist society or even worse.