Its the same for ALL countries.
Countries became Wealthy through EXPORTS of Goods and Services - every single country went through the same path.
At the moment, it is true that China exports more goods than services.
But soon, they will be exporting more of their services. You really should go there to see for yourself.
They are so high-tech now, that China has become a cash less society (other than a few countryside towns). That's right, they don't use cash anymore.
And they are the first with the 5G technology. And it is causing a lot of concern around the world, that the Chinese Gov could use it for spying - basically, Western Gov are fearful that it could be used like the Apple phones (by US Gov) during the early days, to spy on world leaders.
Shenzhen - their Silicon Valley, was nothing more than swamp land, some 30 years ago. Now, it has close to 20M people, all producing high tech jobs. And get this, the Chinese actually have more registered patents than the US.
They are building more houses, buildings and cities, than the whole of Australia, every single year.
Remember how they built two hospitals in Wuhan in 2 weeks?
That is how fast they are moving. Every time, I visit our office in Shanghai, I see a few new buildings completed.
And in relation to Shanghai - that province alone has the GDP size of Australia - yup over 1 Trillion dollars. There are more Telsa, Rolls Royce, Mercedes and BMW owners there, than the whole of Australia.
Many you guys sit in front of your laptop thinking you know it all, by watching and reading biased narratives - especially from people with hidden political agendas.
Sure, their political system is not the best in the world. And if given the opportunity, most Chinese would probably vote for another form of Government.
But that does not diminish their achievements. The Communist system is all in name only.
The best thing the Communist Gov did some 40 plus years ago, was adopt the "invisible hand" of the market.
The ordinary people who had aspiration to live better lives, did the rest.
Now there are more Millionaires there, than the whole population of Australia.
And here is another tidbit for ya, Australia's trade surplus with China is about $100 Billion dollars a year!!!
Yes, that is right - they do a hell of lot buying from us, than we do from them.
And if you actually visited China, you will see there are actually Ten of Millions of Foreigners like myself, who are doing businesses over there.
When you close your mind to new things, it is you who misses out on the opportunities of life.
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