Broken China?
China borders 14 countries and is the 4th largest country in the world and second largest in terms of population. It's very surprising to know so little about the Chinese even though western think tanks and news articles have written volumes. It's shocking that a county which is at the very enter of the global supply chain for nearly every other country in the world is enigmatic, challenging, and difficult to understand. Perhaps it's due to China being an officially atheist state with over 40% of the population identifying as agnostic or atheist? This is remarkably different from nearly any other country in the world as is the lack of ethnic diversity 91.6% identify as ethnically Han. China is different, or is it really?
In this video podcast with Comrade Ian Thornton-Trump CD, CISO for Cyjax, Comrade Lisa Forte and Comrade Philip Ingram MBE we wave the Chinese flag passionately as we explore China. Lisa, was our woman on the ground who travelled the length and width of the region including rural Mongolia in -45 Celsius (-49 Fahrenheit) and visited Beijing as well as some rural villages - we can categorically state China has some of the best ice climbing opportunities in the world. The ice climbing opportunities aside this video podcast is supported by a new report from our sponsor Cyjax written by Comrade Nikita Cole whose draft helped structured our discussion - the paper is available here: <INSERY LINK-Y>
This short excerpt from the CIA world fact book paints the picture and rather surprisingly is unbiased in relating to China's resent ascension to the second largest economy in the world (2024).
"MAO Zedong died in 1976. Beginning in 1978, subsequent leaders DENG Xiaoping, JIANG Zemin, and HU Jintao focused on market-oriented economic development and opening the country to foreign trade, while maintaining the rule of the CCP. Since the change, China has been among the world’s fastest growing economies, with real gross domestic product averaging over 9% growth annually through 2021, lifting an estimated 800 million people out of poverty, and dramatically improving overall living standards."
What the CIA world fact book has left out is the lifting out of poverty has created a massive middle class anxious for western consumer and luxury goods. The 2023 McKinsey China Consumer Report also found the middle class continues to rise. There is still no other country that adds as many households to the middle class each year as China does. Over the next three years, China is expected to add another 71 million upper-middle and high-income households adding to the 693.3 million identified in 2022. It's massive and a massive market opportunity for any firm.
But all may not be as well as it seems - the panel explores some of doom and gloom associated with China and how cracks may be showing in foreign policy, international relations and its relationship with the world’s largest economy the USA - join us for a fascinating look at a country described by some as a "Frenemy" to the west but has radically transformed in less than 1/2 a lifetime - 45 years.