China beats USA by following Western classical economics

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      eridani
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      https://www.nationofchange.org/2021/05/20/china-beats-usa-by-following-western-classical-economics/

      Every time Republicans smugly say “COMMUNIST China,” they win brownie points from their voters, but the Chinese laugh at this demagoguery. Why? Because, China’s economic model is actually based on the 19th century classical Western economics. Unless America understands this, it will keep losing to China.

      Doubt it? Compare the GDP growths of China and U.S.A. from 1992 to 2020. China beat America every single year, often by astonishing margins. What an irony that China is now demonized for following the suggestions of great western minds! China provides free school, free college, free basic healthcare, affordable (and world-class) transportation, inexpensive utilities, cheap raw materials etc., which enable Chinese corporations to become prolific manufacturers and exporters. People-oriented development is the cornerstone of industrial socialist policy. (Click here to see a collage of Chinese infrastructure – airport, library, bookstore, theater, skyscraper, bridge, subway train and more).

      Consider these two exemplary cases: The state-owned enterprises (SOE) in China build cutting-edge internet infrastructure and make it inexpensive, which allows smartphone companies and e-commerce firms to flourish. Obviously, the common people also benefit from low-priced internet and mobile phone services – the latter costs about $6 a month. The result? China accounts for 70% of world’s 5G base-stations and staggering 80% of world’s 5G mobile phone users. China’s e-commerce retail market is larger than those of the U.S. and Europe combined. Similarly, the Chinese government plays an active role in building EV charging stations, which in turn has helped Chinese electric car companies to grow rapidly and capture 40% of the global market share. In my new book, China, China, Chyyna – Greatest Disruption to American Century, I provide myriad statistics on China’s global leadership in technology, infrastructure, scientific publications, patents and more.

      Moreover, just like the 19th century German banks, the Chinese banks are focused on industrial growth and investment. They also provide financing for long-term infrastructure projects. No wonder that China can build 38,000 km of high-speed rail in a decade and execute colossal projects for the Belt and Road Initiative in 130 countries. In the U.S., most bank loans are for mortgages, which only make housing unaffordable and blow-up speculative bubbles.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

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