Charles Jones Soong, the father of Soong May-ling and father-in-law to Chiang Kai-Shek became an extremely wealthy man in China selling bibles! He discovered that there’s plenty of money to be made in religion. Where did he learn that? In America, at Duke University and Vanderbilt University.
I meant to say that IF China can engineer a consumer boom, we might be able to export more stuff. Also, when China revalues it’s currency upwards then the Chinese consumers could afford to buy more imports.
Thailand, Malaysia, South Korean suffered a terrible recession after the Asian financial crisis of 1997, but they were able to engineer a recovery by boosting local consumption. They were previously export oriented economies (and still are but to a lesser degree).
