China, the Leading Hub of Technology and Commerce
A lot of people have written contradicting things about China, the US government would not want to hear anything about China or even speak any good about the country and people in so many western countries see China as a country where you are enslaved and taken captive thereby limiting your freedom because data are being stolen and personal right are being infringed upon.
With a 13.61 trillion USD GDP in 201, do you think China is such a bad nation, then why do we have companies like Apple still remain in the country? Why do we have billionaires who would love to be called Chinese and called any other native/citizen? In this post, i will be writing a few things about China and why I am a little skeptical about what people are saying when it has to do with the country.
First do you know that as far back as the 1970s, china wasn't developed at all, in fact it wasn't regarded as a developing country. it citizens still held candles at night when they had to read. China was a poor country and things were very difficult for its people but fast forward to the year 2020, and you can tell that things have changed. Unlike in developed countries as at the time China was still underdeveloped, it made more sense to recycle so as to help the climate and the environment but Chinese were recycling to earn a living.
China wasn't a tech hub in the past but recently, it has one of the largest economy in the world. Most of this is thanks to its citizens moving from agriculture to invest in tech and work to grow the nation while the country assist them. China has grown from 20% people living in the cities of China to about 60% of its population moving to the city. The country still has plans for future accomodation of people coming into the city i the country.
Companies like Tencent, Alibaba, and other are giants in the tech industry and they have revolutionized the way payments are made in China. Instead of showing your cash and get things with cash, a phone does the trick. China has moved to electronic money and the country is already getting prepared to approve it first blockchain money (cryptocurrency).
Mobile phone has become more powerful in China than in other countries, as it is the hub for businesses and a means to pay, using Alipay, WeChat, and so on as a means of payment makes it really easy for people to go around doing their daily activities without being scared of people stealing their purses.
China's innovation has increased entrepreneurship and this has increased the way money goes into the country. The country's citizens are now glued to their mobile phone to do virtually all they do.
I am not saying that China isn't a communist economy, there is still a very strong dictatorship in the country, but it is a little aristocratic as private individuals and entities can now own properties, do businesses and most of the businesses and daily activities of Chinese revolves round private entities.