(Opinion) Why it is in US interests to accept China as an equal in the Asia-Pacific
2016-11-01 08:59:15 source：South China Morning Post
October 31, 2016
"The traditional world of trade and commerce was built on a system of developed nations buying cheap products exported from developing ones. Low labour costs in the emerging economies made it possible for families in the West to own affordable washing machines and dryers, microwave ovens, refrigerators and TV sets. The savings from buying these cheap products were ploughed into their own economies to create healthy domestic consumer markets.
Emerging economies also benefited; they increased their employment, eased poverty and improved the quality of life for ordinary folk. China is a notable example. It has lifted half a billion people out of poverty in less than 40 years and created a vibrant middle class that can today afford to not only buy imported products but also travel overseas. They have become the new demand in overseas markets."
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