The People's Republic of China (PRC) recently celebrated its 60th anniversary with plenty of fanfare and a superb show of military power. The cost while not spelt out was undeniably large. In the previous year, Beijing hosted the 2008 Olympics and put on a US $43 billion dollar spectacle to awe the world. So, it is no wonder that even with a billion people at poverty level or below, pundits are continuing to say this is China's Century, and expound on how the PRC as the World's factory is also a world power ready to challenge anyone. What else is there to say? One can of course choose to examine the formula behind this hoopla, but do we really want to face the axioms it depends on?