Jul 17, 2022
In General Discussions
Security and defense issues over economic Phone Number List and welfare issues, and were willing and able to make the necessary sacrifices, China's trade could be negatively affected. In addition, hehe new dimension of Western sanctions, surpassing anything Phone Number List previously known, will have far-reaching effects on the global economy. China is vulnerable in this area because the United States, Europe and Japan remain by far the most important markets for Chinese exports. If access to the markets of these countries were to be significantly restricted, China would Phone Number List need other markets or its own internal market to compensate: neither of these options seems feasible. In addition to shrinking export markets, China is Phone Number List finding it increasingly difficult to access high-tech from the West. Not only the United States has imposed sanctions on Huawei and semiconductor companies. There are also European governments that have recently banned Chinese acquisition of cutting-edge technology. Another Phone Number List aspect of that is closely related to the Chinese development model itself is likely to be of particular importance to China: the loss of efficiency through dynamic competition with Western rivals at home. Central to the success of the Chinese economic miracle was decentralization and the delegation of economic Phone Number List decisions, which promoted competition and creativity. And led to a rapid improvement in the Phone Number List quality of Chinese products (although it also accepted corruption for a long time). ). If this competitive pressure disappears, it remains to be seen what will happen to China's innovative strength and its transition to a knowledge economy. The country's domestic market faces significant economic Phone Number List and structural challenges: high levels of debt, an imploding real estate sector, and the progressive aging of the population are putting growth to the test. This is accompanied by extreme income Phone Number List inequality, an explosion in housing costs, and welfare state institutions that are not yet fully developed to compensate.