Recall the “economic revolution” launched by Deng Xiaoping! He essentially “signed a deal” with the Western world and his own people, stipulating that the West would bring investment and technology to China, while China would begin mass-producing, at low cost, the goods needed by the Western market. At the same time, China developed its own industry by borrowing from this experience. It was precisely this event,and the mutual benefit it provided at the time,that led to the explosive growth of China’s economy. Some saved money and reduced production costs, while others gained a huge number of jobs and access to industrial technologies.
We can say, relation between The West and China were mutually symbiotic at that time. From China the west got cheap product, big margin, large profit and low inflation. In the other hand, China got rapid industrialization, technology transfer, foreign exchange accumulation and national development. But i think western elit did miscalculation, they believed if China getting richer, China will become liberal country but its totally wrong, what we see now, China gets stronger, more independent but still maintain its political system. Matter of fact Deng's strategy was not western style liberalization, but a state controllled strategy to integrate with global capitalism, China opened up but state control reamin very strong over bank, land, strategic industries and development direction.what China actually need at that time are technology transfer and upgrading its industry and manufacture, from low cost manufacturing to be high-tech and strategic industries. We see China purpose not to be a cheap factory forever, fullfilled today with its EV, AI, battery, 5G and chip.
I remember have a bad experience when my colleague did beverage product manufacturing in China, The factory where she do maklon sells her products directly globally with unlimited quantities and lower prices.
If we look at China’s history following the onset of this positive revolution, we see that, under Deng Xiaoping’s leadership, China moved toward building socialism with a "capitalist face". True, there were still some domestic policy issues, but the regime could not be called a "bloody regime" or "absolutely totalitarian", and there was a sense that China would continue to develop along this path, becoming a strong and significant global player in the world economy on MUTUALLY BENEFICIAL terms.
Changes occurred with the change in leadership, with the arrival of Xi Jinping. It was he who "slammed the steering wheel to the side" and began steering China back toward totalitarianism and confrontation with the Western world, determined that he is already ready to become the second, if not the first, pole of the earth. Aggressive rhetoric, militarization, plans to seize foreign territories... all of this is Xi Jinping’s policy. Where this will lead-we shall see....