China

China was a country of people living in poverty for many years until 1978 when the government opened up to the free market. China's economy started to grow from less than one trillion to over two trillion by 2001. Then China was allowed into the World Trade Organization in 2001 and since the economy has grown to $19 trillion. This growth was possible for four reasons. First was low labor cost. Second very few regulations. Third low import taxes. Forth currency manipulation. Mostly unmentioned is child and slave labor. Currency manipulation is a policy used by governments and central banks of some of America’s largest trading partners to artificially lower the value of their currency (in turn lowering the cost of their exports) to gain an unfair competitive advantage.