Loading ...This all fits, China being the new USA. Let them be the worlds free police man. Let them be the next global turkey. They can afford it now. Next they’ll have global reserve currency status instead of the US Dollar. Then they can RAM the Yuan value much higher, and start importing all their needs mathematically cheaper, from the USA and other countries.
In other wards, THEY will be off shoring manufacturing jobs TO the USA for a change. (this could take 30 more years) THEY will muzzle THEIR manufacturers with environmental regulations, AND give tax incentives to manufacturing to encourage moving jobs or production off shore to the USA Japan and Europe.
China will rotate into a retail sales and service, of artificially cheap imported products. Chinese people will do good being able to buy cheap imports and sell at high profits so they can absorb each others, and their countries accumulated wealth, rather than producing things that create wealth. As their wages fall, and domestic businesses have to cut corners to compete, THEIR profits will fall, leading to inadequate tax receipts and a growing national debt like here.
If I was a manufacturing businessman living in China today? I would sell my business early on while the value is still high and ready to fall. Then start opening retail stores and malls. Also get in early on green related jobs that are tax payer subsidized.
China like a crop. Now ready to be harvested. Just like us after 1970, 50 years ago. The beginning of their “wealth build up”. Our wealth build up for later harvest started in 1913 and ended in 1970.