Chinese economy is growing rapidly. It has already surpassed the U.S. as the world's largest industrial economy. It is also leading the world in the area of IT industries with 5G technologies, which will enable China to dominate the next prosperous growing businesses such as IoT, AI services, self-driving cars, smart cities and so on.
This amazing accomplishment has been brought about by so-called ”socialism with Chinese characteristics”, a combination of sophisticated planning and the vitality of market economy. China has already succeeded domestically in getting as many as 800 million people out of poverty and will apply the methods to Asia and Africa to alleviate poverty. China's economic and financial support and infrastructure construction in Asia and Africa are creating and will continue to create new middle classes and new markets there.
On the other hand, a free market economy, which actually should be called as "a no-plan economy", is declining and dwindling rapidly. In a free market economy, inequality between haves and have-nots is widening. The wealth of nation is concentrating to a handful of super-riches while majority of population are struggling to survive daily lives. European nations and the U.S. have been using Asia and Africa only as sources of raw materials and markets to sell goods, ignoring welfare of the people there.
In a free market, business entities are competing each other, trying to suppress rival entities by bringing law suits, manipulating regulations, abusing media, controlling politicians and so on. It is such a waste of energy and money.
In the coming years and decades, a planned market economy, i.e., a combination of sophisticated planning and the vitality of market economy, will be even more successful and prosperous by making the most of 5G technologies, big data and IoT, which will make it possible to collect huge information on consumers' demand and then connect them to production lines in factories, making economy most efficient and stable with precisely matching demand and supply. 5G technologies will facilitate cross-border e-commerce too.
Also, China is introducing digital currency for the purpose of domestic and international payment, which will enable China's financial businesses most efficient and cost-effective. Digital currency combined with 5G technologies will eliminate the needs of bank branches and bankers working there. With digital currency and 5G technologies, everything will be done online, slashing the cost of a large number of branches and bankers. When China applies digital currency and 5G technologies to Asian and African nations, these nations will be able to skip obsolete bank branches and bankers and jump directly into the most advanced financial systems of cashless economy. European and US commercial banking firms will be overwhelmed and eliminated there.
A no-plan economy is savage and violent by its nature. Britain and the U.S. will try to disturb China's economic advance by military force, drawing China into regional conflicts such as Taiwan crisis. Asian and African nations should unite and support China to prevent Anglo-American savage military attempts so that imperialism based upon a no-plan economy will be eliminated forever.
Thank you.
Disclaimer: The views and opinions expressed in this article are those of the author and do not reflect nor represent the policy or position of any government, party, or organization.
This amazing accomplishment has been brought about by so-called ”socialism with Chinese characteristics”, a combination of sophisticated planning and the vitality of market economy. China has already succeeded domestically in getting as many as 800 million people out of poverty and will apply the methods to Asia and Africa to alleviate poverty. China's economic and financial support and infrastructure construction in Asia and Africa are creating and will continue to create new middle classes and new markets there.
On the other hand, a free market economy, which actually should be called as "a no-plan economy", is declining and dwindling rapidly. In a free market economy, inequality between haves and have-nots is widening. The wealth of nation is concentrating to a handful of super-riches while majority of population are struggling to survive daily lives. European nations and the U.S. have been using Asia and Africa only as sources of raw materials and markets to sell goods, ignoring welfare of the people there.
In a free market, business entities are competing each other, trying to suppress rival entities by bringing law suits, manipulating regulations, abusing media, controlling politicians and so on. It is such a waste of energy and money.
In the coming years and decades, a planned market economy, i.e., a combination of sophisticated planning and the vitality of market economy, will be even more successful and prosperous by making the most of 5G technologies, big data and IoT, which will make it possible to collect huge information on consumers' demand and then connect them to production lines in factories, making economy most efficient and stable with precisely matching demand and supply. 5G technologies will facilitate cross-border e-commerce too.
Also, China is introducing digital currency for the purpose of domestic and international payment, which will enable China's financial businesses most efficient and cost-effective. Digital currency combined with 5G technologies will eliminate the needs of bank branches and bankers working there. With digital currency and 5G technologies, everything will be done online, slashing the cost of a large number of branches and bankers. When China applies digital currency and 5G technologies to Asian and African nations, these nations will be able to skip obsolete bank branches and bankers and jump directly into the most advanced financial systems of cashless economy. European and US commercial banking firms will be overwhelmed and eliminated there.
A no-plan economy is savage and violent by its nature. Britain and the U.S. will try to disturb China's economic advance by military force, drawing China into regional conflicts such as Taiwan crisis. Asian and African nations should unite and support China to prevent Anglo-American savage military attempts so that imperialism based upon a no-plan economy will be eliminated forever.
Thank you.
Disclaimer: The views and opinions expressed in this article are those of the author and do not reflect nor represent the policy or position of any government, party, or organization.