Quote:
Originally Posted by The North One
Because China is not communist, at least not yet. That's not like some secret. They're supposedly working toward that goal.
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Their domestic economy has been widely converted to some sort of free market since the early 1990s and the collapse of the Soviet Union, which means some kind of capitalism and competition, but their everything still somehow remains under the strict control of their so-called communist party. It is still dictatorship out there. And they're not really open to international competition, to say the least. So they're not an actual free market at all, according to Western Liberals.
However, hundreds of millions of them overcame poverty, mostly in their urban areas, which should be good news to us, because it means new consumers and business opportunities for us in the end.
The problem is their regime is still nasty. And they think their workforce is not ready to face global competition yet.
The real interesting point is that there is an actual and massive Chinese middle class now. People pretty much like us, who want to live decently, enjoy life, travel the world, have some fun and all.
Now billionaires are obviously only something extremely marginal, like a bug in Liberal capitalism. How many billionaires in your acquaintances or circle of friends? Most likely none.