Did the US and China Get Each Other Wrong for 40 years?

America is finally starting to see China as it is. That is, no more hope for a gradual transformation into democracy; no more hope for a peaceful rise of the dragon; and most importantly, no more hope for sharing that sweet pie of a prosperous Chinese economy in a mutually beneficial way. All these hopes are gone. But the question is this: How did they come about in the first place?

For the past 40 years, has America’s China policy been driven by hegemonic ambitions in geopolitics? Has it been eroded by corporate greed? Is it an unfortunate result of wishful thinking? Or does the misunderstanding simply reflect cultural differences? What is the most important lesson America should learn from this 40-year unsuccessful China experience?