Posted on 08/10/2019 7:02:18 PM PDT by 2ndDivisionVet
Even before the trade war, President Xi Jinping's plan to turn China into one of the world's most advanced economies by 2050 was ambitious.
His grand vision is now looking more aspirational by the day.
As mounting pressure from US President Donald Trump adds to a slew of structural challenges facing China's US$14 trillion (S$19 trillion) economy - including record debt levels, rampant pollution, and an ageing population - the risk is that the country gets stuck in a "middle-income trap", stagnating before it reaches rich-world levels of development.
Economists say Mr Xi's government can avoid that fate by boosting domestic consumption, liberalising markets and increasing the country's technological prowess. But it would not be easy.
Only five developing countries have made the transition to advanced-nation status while maintaining high levels of growth since 1960, according to Nobel laureate Michael Spence, a professor at New York University's Stern School of Business.
"China trying to do this with active opposition from the US makes the hurdle that much higher to jump over," said Mr Andrew Polk, co-founder of research firm Trivium China in Beijing. "But the US has clearly lit a fire under China. If it ultimately does succeed we may look back at this moment as the catalyst that really kicked their efforts into high gear."
(Excerpt) Read more at straitstimes.com ...
Can anyone decipher this: “As mounting pressure from US President Donald Trump adds to a slew of structural challenges facing China’s US$14 trillion (S$19 trillion) economy” It is a typo or the author lacks some essential English.
What other country, ever in history, willingly ‘gave’ the enemy the economic power to build up its military, where that enemy’s military is aimed squarely at the head of the country foolishly building up that country?
China had it good for the last few decades, and foolishly and stupidly bit the hand that fed it. Luckily we now have a president that can stop all that stupidity that was allowed by both, democrats and republicans. But, we’ll no doubt go back to being stupid as soon as a democrat wins the presidency.
Singapore. Singaporean English (Singlish) is a little different.
P4L
Thank you.
Nobody voted for de industrialization and offshoring. If the people had had a say in this this would have never happened to the USA. This greedy short sided raping of America was forced on us by the globalist, the WTO and the right wing. See we were all supposed to learn to code and become doctors.....
$14 trln? Please. China’s GDP is $6-8 trln. Whuch makes their debt to GDP 400-500%.
Listen it was not the Democrats that off shored industry to China, It was the WSJ business types, and the right. NOT THE LEFT. To prove I am right mention the benefits protective tariffs to a standard Republican and their hackles go up like a hissing vampire. Thank God for Trump trying, without out much successes to far, to steer the Republicans away from globalism and towards nationalism.
Another bank failed...CNY currency is junk
Not if he signs a universal background check law or red flag law. That would eventually leave us wide open for a Chinese invasion and occupation, not to mention immediately demoralizing most conservatives and driving us completely away from any interest in politics and voting.
Listen it was not the Democrats that off shored industry to China,/////
Yes it was. Evidently you have forgotten about the klinton era when klinton donor Bernard Schwartz CEO Of Loral gave the chicoms satellite technology. Or when chicom gardeners and LT Cols were dropping off suitcases of cash for the klintons. When do you think the influx of chicom “students” into this country started?
The offshoring floodgate opened when the WTO was ratified in 1995 while klinton was POTUS. Offshored leftist corps like apple and google continue to aid the chicom state. I could go on.
WSJ business types? Name some Fortune 500 Companies that don’t toe the progressive line.
The “right wing” is not monolithic. The Romney types who support tax cuts while selling out to the chicoms may be right wing to you, but not to me.
Only five developing countries have made the transition to advanced-nation status while maintaining high levels of growth since 1960,..
would have loved to know which five.
Greed, stupidity and short term thinking.
Actually, Americans did vote. They voted with their $$ in a free market by purchasing the greatest value for their money. It truns out the source of some of the purchases was China.
They did vote, in a free market you want to destroy
China was given MFN status and it was a globalist wet dream..
I repeat this for any sane nationalist Freepers out there. There is nothing in the the Constitution giving you the right to duty free trade outside the USA.
Bert, name one policy over the last 30 years( pre Trump) that the GOP proposed or even passed that protected US wage earners.
I wish this wasn't true but a W-2 employee, common wage earner, has NO reason after Trump is gone to vote GOP.
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