Comments by "D W" (@DW-op7ly) on "The Man Who Modernized China" video.

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  2. We get some of the blame because when Nixon went to China in 1972 . To get them to open up the country and economy. The people were still 88% in abject poverty. And it was just 10 years after the great leap forward. And right in the middle of the cultural revolution where 10s of millions met their demise. Yet we spent the last 50 years buying the gadgets made off the hands of 100s upon 100s upon 100s of millions of migrant workers paid dollars a day to make them. Raising our standard of living while keeping their standard of living suppressed It’s just while we borrowed and spent on the public purse (Sovereign debt) and on our own personal pocket books Their migrant workers saved 30% of those wages per year. Invested or made businesses with those slave like wages and enriched themselves. We just didn’t expect that to happen. Yeah sure we expected them to buy 1 billion toothbrushes and 2 billion socks. But we didn’t expect them to enrich themselves This was nothing new. Developed countries go to 3rd world or developing country like China take advantage of the weak labour laws, weak environmental laws, yes weak ip laws, and mass pool of cheap labour And then close shop run for it when the locals complain about the pollution or wages My evidence our TOOBIGTOFAIL investment banks in the west worked out the worst deal for themselves, before pushing for China’s WTO inclusion. A 33% interests in a Chinese subsidiary joint venture investment bank. Where the Chinese parent company held 67% interest these days we just type our suddenly woke indignation on a Chinese made gadget. Even if not made in China will have Chinese made components in it. Right down to the highly polluting rare earths mined and refined in China used to make the gadget in the first place
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