ABOUT CHINA’S DEVELOPMENT*

• ABOUT CHINA’S DEVELOPMENT
  By Paulo Rebelo

About almost 20 years ago, I read an interesting and insightful article written by an American economist.

At the time NIXON visited CHINA, besides democratic and geopolitical purposes, basically, as usual, the USA was trying to open CHINA’s market to their huge industries and good products.

It took decades to happen. Needless to say that CHINA was backward and most of its products rough and artless.

However, CHINA’s politburo, fearful of the American greed and political dominance established 5 fundamental and major non-negociable conditions as followed bellow:

1- NO ROYALTIES AT ALL: it means that all the profits must be reinvested in CHINA;

2- All foreigner companies must have a Chinese partner;

3- All foreigner companies must transfer crucial technologies for CHINA’s development;

4-Foreigner companies must develop their ambitious projects all over CHINA, including and mainly in the countryside where they are most needed;

5- For these purposes, all the regional infrastructure must be created with the foreigner companies’s massive investments.

BINGO!

Well, it seems that the Chineses with its millenary culture are smarter than the American capitalists which used to dominate the rest of the world with “100 %” favorable economical conditions for the USA.

The other sad side is that the Chinese don’t know (and don’t care) the western cornerstone: DEMOCRACY(what’s that for?), for they have been ruled by dinasties and communists.

At last, CHINA comunism insists that it´s still virgin, but was entirely deflowered by capitalism!

Well, BUSINESS IS BUSINESS!

PAULO REBELO