Only when it benefited them in the monetary sense. They were and are not capitalistic in the sense that they still don't allow free trade. They promise and talk as if they do but they're very far from it. They're abusing the system in demanding completely free trade and investment climate from western countries but not giving anything close in return. This is true for most of Asia. Western countries need to wake up and adjust policies.
Its amazing how the west can assist a 3rd world country, it flourishes then gets in a dictatorial leader and suddenly it all turns against the west. The Philippines nearly went down that track until China overstepped their mark which pulled Philippines back from the brink.
d08, sorry to put you too to my ignore list, as I don't have time to read your anti-China and anti-Russia propaganda c-rap as I have no time for such empty "discussions"... Cooperation is needed between the superpowers more than ever, not confrontation.
I really don't understand how you can suggest that China should thank the West for its success. If anything at all, everyone has profited from their opening to the world. Western businesses and nations have profited handsomely from both cheap manufacturing and from sales to China which are all reflected in the rise of our stock markets. 42% of Australian exports go to China! The EU's biggest export market is China and the US exports $100B worth of goods to China, our largest export market after Canada and Mexico.
Yeah I was going to say they DO practice free trade but only when they export. LOL And at the same time they still think they gained all the economic growth all on their own. Well now all the western nations are all spent up. I guess China will have to turn to all the middle eastern oil rich countries and Russia to export their products to. I hope China's new trading partners are going to be as nice and generous as the western nations that have carried China for the last 30 years.
So China expected the west to make nothing when trading with China?? LOL Just because the west made money also so China doesn't have to appreciate west's patronage at the least? And we are not even talking about all the technology transfer and everything. Everyone has profited from but somehow China is still the victim?? And it's incredible that you can suggest that the west profited handsomely when their exports to China on just a few items "enjoyed" 50% tariffs when China exported products to the west that filled up almost 100% of the market with virtually no tariffs. LOL 42% of Australian exports go to China. Yeah but how much does Australia export out of all of its GDP? And how much of China's GDP goes to exports? LOL And a wake-up call for you, USA's largest export market is Canada and in 2020, it exported $255B+ to Canada and China is only its third-largest export destination at $125B+ in 2020. https://tradingeconomics.com/united-states/exports-by-country And China, its largest export destination is USA. And guess how much it exported to the USA, its biggest enemy that it wants to have "broken heads and bloodshed"? It exported $452.58B to USA, FOUR times of how much it imports from the United States. In other words, for every $1 United States earns from China, it gives FOUR dollars back to China. So if you want to think of world trade between China and US as a pie, for every piece of the pie that USA takes, China takes FOUR pieces more. And this is AFTER the increased tariffs that Donald Trump, the much-hated US president has levied on China for the exports. So imagine how little United States was earning from its exports to China before the tariffs for the last thirty years! https://tradingeconomics.com/china/exports-by-country. Yeah, you are welcome, China. Time to take the red pill for you to wake up from the CCP propaganda that you have been subjected to.
And one more red pill piece of information to you: EU's largest export destination is also United States, not China: https://tradingeconomics.com/european-union/exports-by-country. It exported $400B+, close to how much China has exported to United States and only exported $230B+ to China in 2020. But guess how much it imported back from China in 2020? $442B+, TWO times of how much it exported to China. https://tradingeconomics.com/european-union/imports-by-country. So for every $1 EU earns from China, it gives $2 back to China. And in fact, China is the biggest import source country for EU. Yeah so China also owes EU another big kowtow. In total, China exported $452B to United States and $442B to EU, a total of close to $1 trillion to pretty much all of the Western nations. And how much does it pay back in imports? $125B to United States and $230B to EU for a total of $355B, only a third of how much it earned from United States and EU. And the CCP still thought it did it all on its own? LOL
This is not a result of low wages and high aptitude. This is a result of unfair trade practices and manipulated currency. Would China like to see what happens if the Euro and the US dollar gets devalued to 1/6 of the Chinese yuan and the US and the EU always add 50% more tariffs on Chinese imports? Does China dare to see what happens in that scenario? No.
What would China be without exports to the western world and stealing of western technology? They made bank because they invested exactly 0 to research and development and just stole (or copied) everything. It's to do something cheaply when you don't need to invest in R&D. Also, EU's biggest export market is UK, followed by US. China is a long way away at 3rd, near Switzerland and Russia.