Such a report is typical of Bloomberg simply because US corporations are not allowed to plunder the corporate profits without a Chinese partner & paying Corporate Tax.
Its different here in Aus.
(By the Indonesia has a similar gig requiring Multinationals to take on a 51% Indonesian partner thereby sharing equity and technology within 10 years of start-up but we dont mention that , presumably because the Indonesian Government is not Communist!)
IMO the failure of a western market economy critique on China is simply that; we measure the Chinese economy by the US yardstick .
The Chinese hybrid economy led by the one party CCP has the runs on the board; not only in historic GDP growth but more importantly social equity in that it has taken Ove 800 million (3 times the total population of the USA) out of abject poverty in a generation .....something that has never been done before.
Now lets do a reverse comparison:
Supposing that the USA had $600 Billion/P/A of a trade surplus, owned over 30 % of global manufacturing and trade and held $3.2 Trillion (USD) of Chinese currency & Treasuries....what would we be saying I wonder?
The anti-China bigots would be saying: -Drop the Yuans and Chinese treasuries, knock the ass out of their value which would cause rampant Chinese Inflation, debunk the CCP and split up China into a gaggle of rump states.
But of course China is not doing that to the USA...(yet)
There is a currency/economic war happening between the US & China (led by the USA that wants to stymie China growth because the US knows that its growth going forward is buggered with the short term sugar hit of $2 Trillion a year deficit spending (AKA Debt) just keeping it afloat.
If the USA were to increase taxes by $2 Trillion a year it would be Brown Bread within a decade, IMO.
Its rather ironic that the US presents itself as the global citadel of Capitalism while it uses Keynesian Economics , deficit spending , (Socialism) to goose an ailing economy.
And IMO its also ironic that we here in Aus criticise China for an oversupply of housing while our 3 levels of Government is at wits end to meet our drastic housing shortage.
Our family home ought not be a source of wealth accumulation; otherwise it should be taxed at the capital gains rate, IMO.
In summary we are making a mistake by measuring the Chinese with the US Yardstick .....the US being predominantly a private enterprise economy and China being a 50/50 hybrid...50% private but heavily regulated and 50% State Capitalism .
IMO rather than us US style forecasts (which by the way were worth diddly squat in the zeroes and leading out of the GFC) its better to judge China on its record/trajectory.
Its BRI & "Made in China 2025" are 2 amazing mega economic programs; something that a Western Democracy could never achieve because of the short term political cycle which snookers long term bi-partisan planning.
