Sunday, September 4, 2022

China

Almost everything positive about China has to do with the free market economy and almost everything negative about China has to do with the Communist government. China's fast growth began with its entry into the World Trade Organization(WTO) in 2001 and since its GDP moved from one trillion to 15 trillion. This was only possible because China pirated most of the technology of the west and convinced western countries to invest in China by offering low wages, few business regulations, slave labor and coal for energy. As bad as that sounds it very much mirrors the way the western world went through the industrial revolution in 1800. The one big difference is that the west invented its own technology. China was able to cut its developing time by using western technology and did in 20 years what it took the west 200 years to get done.

No comments:

Post a Comment