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it's interesting that the report mentioned the start of 2001 as the low GDP growth for US and EU......but it's also around the same time that China joins WTO.
by ting_bu_dung 10y ago
it's interesting that the report mentioned the start of 2001 as the low GDP growth for US and EU......but it's also around the same time that China joins WTO.
For 15 years, jobs, communities and quality of goods were sacrificed in US and europe for cheap, shoddy goods that were produced by laborers in China in abysmal conditions, the rewards reaped by Chinese communist party insiders.
For 15 years, US and european companies outsourced their money and time to China, only come to find out that by being short sighted to profit, they've lost their trade secrets, technologies, know-hows, skills, market shares to Chinese manufacturers and technology companies. They paid a big price to learn that with the Chinese government, Only China wins. There's no win-win for both. When dealing with Chinese government, you lose.
So we're at an interesting intersection in 2016. China's membership in WTO is at its end this year. China is exposed as having an authoritarian regime that is hiding trillions of debt and likely having a 0-2% gdp growth. It is exposed as having an anti-foreign environment where companies like Uber, Wynn, Yum, Apple are all suffering. What will happen?
- ting_bu_dung 10y ago"“Made in China 2025” initiative, which aims to ensure Chinese-made components and materials account for 70 percent of China’s manufacturing inputs by 2025." http://atimes.com/2016/07/us-warns-at-wto-of-china-backsliding-on-economic-openness/ http://atimes.com/2016/07/us-warns-at-wto-of-china-backslidi... US warns at WTO of China backsliding on economic openness
- Roboprog 10y agoI'm not voting for Trump, but he has definitely hit a nerve with his anti-China rhetoric - "cuz it's true!". I'm pretty sure that sentiment also alienated him from most of his party's establishment. I don't know that I will vote for Hillary, either, since the Clintons are like "Full speed ahead!!!" with the free traitor, er, trader, crap. I voted for Bernie :-(