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mazingerz88's avatar

How would the global economy be today if China did not open its doors to trade and foreign investment?

Asked by mazingerz88 (28953points) 2 weeks ago

What if the world consumers today had never seen a product made in China?

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7 Answers

RedDeerGuy1's avatar

Less lead poisoning from cheap trinkets.

elbanditoroso's avatar

Utterly impossible to say, because you would have to rewrite history from back in the 1970s (Nixon’s opening to China). And far too much has happened on the last 50 years.

MrGrimm888's avatar

Part of most economic success, is through trade relations.
Unless you’re Saudi Arabia, you have to export something, to play. They just have to pump the oil out of the ground.

China is rich, in resources, but wouldn’t be close to the economic giant they are, without foreign trade, and investment.

I would argue that American capitalism, essentially made China what it is today.
Even their own citizens used have only recently been able to buy things like gold.
They don’t treat their people well enough, to survive off of their own consumers.

Really. All nations have some sort of trade. The way it is oversaw, and regulated is what separates economically successful nations, from the top heavy, corrupt and broke nations of the world.

Forever_Free's avatar

This was not just China opening it’s doors. World economy doesn’t work that way especially for Communist Nations.
China is rich in resources but it is mostly wanted for its labor and manufacturing. China does not create many jobs for US citizens, yet the US has created a global economy for China.
You think an iPhone at $1000 is costly? If made in the US it would be about $2400.

Nixon and Kissinger’s visit with Mao paved the way in 1972.
President Clinton signs the U.S.-China Relations Act of 2000 in October, granting Beijing permanent normal trade relations with the United States and paving the way for China to join the World Trade Organization in 2001. Between 1980 and 2004, U.S.-China trade rises from $5 billion to $231 billion. It is estimated $800 billion currently.

Just remember:
If you go carrying pictures of chairman Mao
You ain’t gonna make it with anyone anyhow

ragingloli's avatar

Perhaps without the competitive pressure from cheap chinese quasi and actual slave labour and the resulting offshoring of manufacturing jobs, the downward spiral of decreasing real wages would not have happened, at least not to the extent as it has.

Lightlyseared's avatar

There’s a good chance there would have been another world war. People who’s are talking and trading tend not to attack each other

mazingerz88's avatar

^^Interesting. Would the CCP be still in power if it did not open China economically to the world? Would it have the same great military prowess that it is using now as a means to intimidate its neighbors and highly likely incite a war in that region that could drag the US into? Wondering.

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