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by tehjoker
420 days ago
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This is a highly propagandized view of China. Their industrial strategy was to get western capitalists to support industrializing the country by offering cheaper labor, but without surrendering control of the country to them, but now wages have risen quite substantially and their country is industrialized. The western capitalists are now pissed that china didn't "liberalize" and let them take control of the country and are attempting to retaliate. This is why you have imbibed this propaganda that they created. |
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And this is surely a well balanced opinion and not one shaped by highly ideological forces...
There is nothing particularly wrong with what OP is saying, with the deflationary price wars happening it's very clear they rely on open exports markets to stave off unemployment against their insufficient domestic demand. That itself is only a possibility in a world of free trade fostered in USA, not in a world of mercantalism pre 1945. The ironic thing is that they themselves are trying to suppress the development of India next up in the value-chain.
Anyways, Chinese economists themselves agree for the urgent need to shift to consumption today rather than double down on manufacturing, something that should have done decades ago like Western economists have been urging.