I guess its makes Westerns feel good to emphasise China's crude treatment of prisoners but we have to bear in mind that China's industrial rise over the past 30 years has been phenomenal. For example 5 years ago (2015) China produced:
- 50 Billion T-Shirts -10 Billion pairs of Shoes -800 million tons of crude steel (50% of global production) -2.5 giga tons of cement (60% of global production) -burned 4 billion tons of coal (as much as the rest of the world combined) -produced 23 million vehicles (over quarter of global production)
(source: Yi Wen)
Those figures have increased in the interim.
No wonder the US cant keep up and that its only strategy is to block China. With the negative impact of Covid-19 on the USA, China willl likely pass out the USA in GDP (USD) by 2026 ( China passed the USA in 2014 GDP-PPP adjusted)
It has taken the USA 11 years to build its San Francisco to LA high speed rail system (about 1000 kms) In that period of time China has built 36,000 kms plus the rolling stock etc.
Our challenge is how can we benefit from China's rise other than supplying iron ore, coal & LNG; industries that are over 80% foreign owned.
