March 28, 2024
Why China’s future does not look bright
China is paying dearly for supplying the world with low-cost manufactured goods and the long duration health of its people is in serious danger.
China is paying dearly for supplying the world with low-cost manufactured goods and the long duration health of its people is in serious danger.

Up until recently I felt that China’s economic growth was unstoppable and that it would indeed surpass the U.S. and keep going into a bright future.

However, researching more, I concluded that healthy land use for agriculture (such as organic farming) and minimizing industrial pollution are even more important than economic prosperity. China doesn’t have them; we do.

The dysfunctional running of the centralized banking system by the CCP is also major handicap for the economy.

Now, if you merely compare a dollar’s worth of the Chinese economy to that of the U.S., it seems that China is doing rather well, being second in the world, and net exporting about $400 billion a year in 2020.

IMF data from 2018 show that China’s debt to GDP ratio is 55.36%, while U.S. debt to GDP ratio is 106.7% or almost twice as large as China’s.

Total wealth in 2020 of the U.S. is $105,990 billion and China is $63,827 billion or about half that of the U.S.

However, I am beginning to feel sorry for the Chinese people who are being victimized by the corporatist or state capitalism which is rapidly turning Chinese land into a toxic cesspool, with devastating health impacts on the people.

It’s short duration profits at the expense of public health. It is no wonder that the U.S., E.U., and Japan do not allow the import of some Chinese foodstuffs which contain unhealthy additives, dangerous drug residues, and unsanitary characteristics. Crop pollution is not prominently mentioned in the news. but many Chinese citizens have little confidence in the food which they consume.

[Interesting Read]

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