Has China won? An ex-Singaporean diplomat on America's biggest mistake

Key takeaways: Mahbubani examines both China's and America's biggest strategic mistakes.

• Mahbubani says China's biggest error in its dealings with the U.S. was alienating the U.S. business community, once China's loudest supporter in Washington, through years of predatory practices such as forced technology transfer.
• And America's biggest mistake was launching a geopolitical contest with China "without first working out a long-term strategy."

Flashback: I asked Mahbubani what he thought the Obama administration's biggest mistake was.

• He said it was the "prevalent belief that a country like the U.S., that is less than 250 years old and has less than a quarter of the population of China, could transform a country the size of China with a 4,000-year history."