Saturday, April 9, 2022

New China

China was a backward county economically speaking for over a thousand years but in the last century things begin to change. First off Nixon open the Western door to China in 1972. As free market ideas came to China in 1982 and the economy began a healthy growing streak that is still going on. In 2001 China joined the World Trade Organization and growth expanded quickly. In 1970 China's GDP was $100 billion and by 1982 it doubled to $200 billion. From there is has grown to $16 trillion and in the process has moved one billion people out of poverty. The primary factor in this growth was the West investing manufacturing in China and importing the products made there. It is now time for the West to cut China free and start bringing home manufacturing as this is not only an economic concern but a national security concern. It will provide high paying jobs for Americans, shorten the supply chain and guarantee a supply of important goods like pharmaceuticals and computer chips.

No comments:

Post a Comment