What do you think about child as an individual?

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Do you really think our children understands us?Does this generation really are flourishing with knowledge.I some times feel our kids are lucky they get every think before they ask for ,are we doing good or right as parents?Did we as kids live a life as they are leading?They are much courageous,confident,determined and they know what they are doing.Is these qualities really good when they are a child? what do you suggest? How do you rate them?