Our failure to properly deal with Germany and Japan early cost the world dearly later on. We dare not make the same mistake with China.

In this quote, Steve Forbes reflects on the historical failure to properly address the actions of Germany and Japan in the early 20th century, particularly during the lead-up to World War II. He argues that not taking stronger action against these powers earlier on had devastating global consequences. This serves as a cautionary reminder that when international threats are not handled decisively, they can escalate into larger, more costly conflicts.

Forbes draws a parallel to the present situation with China, suggesting that failing to address China's growing global influence and potential threats early could lead to similarly costly outcomes. His statement implies that China's rise as a global power presents challenges that should be addressed with strategic foresight, rather than waiting until it becomes too late, as was the case with Germany and Japan.

The quote highlights the importance of proactive diplomacy and the need for effective international relations to prevent the escalation of global tensions. Forbes is stressing that the failure to act decisively in the past cost the world significantly, and the same must not happen with China in the modern era. It underscores the necessity of understanding global power dynamics and taking timely actions to avoid future conflicts.

Overall, Forbes' statement is a reminder of the lessons of history and the importance of early intervention in global politics. His comparison serves as a warning against complacency, urging policymakers to recognize and address emerging threats before they escalate into more significant challenges.