The Chi-Coms are nowhere near having a domestic market that could support the 400 million or so dependent upon U.S. and other export sales.
What about the 800 million rural Chinese who have been left behind?
What is China without useful-idiot technology transfers, FDI, and EXPORTS?
What is there to admire about this..
"According to World Bank figures, nearly 500 million Chinese people still live on less than $2 (£1.40) a day. The rural poor feel that the profits from China's economic expansion have passed them by. . . Communist Party's model of growth could soon collapse unless it allows China's 800 million rural people more of a say "
800 million of 1.2 billion.. about three-quarters? That's like 225 million here? NO THANKS!
I'll take the good ol' U.S. Y'all can have the Chi-Coms' economic "miracle."
If they stopped buying our treasuries we'll stop buying the Chi-Com and useful-idiots' exports -- we'll suffer economically -- for a while -- but we'll have massive job creation as American entrepreneurs rush to provide the products.
The Chi-Coms will have revolution and the useful idiots will lose everything -- they were going to lose anyway as Deng's NEP had no intention of allowing them to stay in China. I bet.
Those 500 million rural poor represents the bottom 35% of Chinese society. They represent mostly older farmers who never caught on to the industrial revolution. They live on 2 dollars a day, which is pretty horrible.
However the median global wage is around $1.15 a day. So the poorest Chinese peasant still makes almost twice as much as the global median salary. In the early 80s, 95% of the Chinese population lived on a dollar a day.
The bottom line is that capitalism and industrialization tremendously improves a society.