the chinese cpc has recently announced that they will target a dozen or more new industries. they will put some of that 1 trillion dollars of trade surplus to work there. that will help employment but they will likely be paid the same relatively low wages and put in long hours as in other industries so there is no time romance.
The chinese youtubers I follow all say that the chinese workers are underpaid and work to many hours. that the cpc runs a giant extraction machine. they extract money from their own citizens by underpaying them for longer hours. And they extract money from foreign countries by first wrecking foreign competition with state subsidized low cost exports. Then when the competition is put out of business—they raise prices. what happened to the USA over the last 20 years is now being done in every other country.
Here’s the rub. The huge foreign exchange surplus is not invested in the chinese people and economy. it goes into foreign accounts.
The US government is well aware of this.
Trump just put out a foreign policy paper. One of the things that he mandates is a US intelligence sweep of the planet to find out how much individual ccp members have in their own accounts through various shell companies all over the world.
When he goes to beijing next year—he’ll arrive with that information.
How will he use it?
One people have been saying for at least 5 years is that the cpc needs to invest more in their own people. one reason the balance of payments is so high is that imports have collapsed. the chinese people are not buying anything. that’s in part because the ccp is urging them to buy local but also because there seems to be less money available.
as well there is no safety net in china. Whereas in the USA the safety net is so huge —its being abused by all manner of pirates.imho the minnesota pirates are just the beginning. the fraud in california is much greater.
cpc=ccp