Quote from: target on Today at 04:36:08 AM

I thought so too because popular financial individuals are often talking on TV about the spectacular growth of China's economy that they are ahead already. But one that they obviously agreed is that all products we have been buying now are from China and the technology they have is more advance. They even have their own version of Tesla cars.

Handling corona19 just made them ahead of time and have been developing the CBDC which they could contest the USD as currency reserve as they prophesized.

China has the perfect combination of zero red tape, affordable labor and low taxes. No other country has this combination. Take the case of US for example. The taxes are moderate, and red tape is absent. But the labor is very expensive. Now take the case of some country like India. Here the taxes are low, and the labor is more affordable when compared to China. But red tape is a major issue and the companies don't want to invest in that country because of this reason. This situation is unlikely to change in the next one or two decades.