❝ China has achieved much since 1978, when Deng Xiaoping initiated the transition to a market economy. In terms of headline economic progress, the pace of China’s transformation over the past 40 years is unprecedented. The country’s GDP grew by nearly 10 percent per year on average, while reshaping global trade patterns and becoming the second-largest economy in the world. This success lifted 800 million people out of poverty, and the mortality rate of children under five years old was halved between 2006 and 2015.
The question now is whether China, well positioned to become the world’s innovation leader, will realize that opportunity in 2018 — or soon after…
❝ Earlier this month, Apple CEO Tim Cook declared that, “China stopped being a low-labor-cost country many years ago, and that is not the reason to come to China.” The country’s manufacturing strengths now lie in its advanced production know-how and strong supply-chain networks. Understandably, China’s leadership wants to increase productivity and continue to move further up the value chain.
I suggest you read the article. Even though your representatives in Congress will (1) probably act surprised by this and (2) stamp their little feet in anger and fear – fact remains that international trade usually is a cooperative affair and the political maundering is only for that telenovela called electoral politics.