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Comment by throwaway053 | Hacker News Reader

Oh yes, China, with the authoritarian government lead by a dictator, and has proven to engage in unfair trade policies and dumping of goods, and supports an evil regime in north korea, is going to help the region grow! /s.

Seriously, only third world countries welcomes Chinese loans that will never be be repaid. The 'Belt and road' scheme has been shown to be a failure thus far. No smart nation wants to have its economy/community/jobs/manufacturing destroyed by an evil government, just for cheap, shoddily made goods

Besides, China has no trillions to spend. It's massively in debt, suffers from capital outflow and rich fleeing the country. It has middle income problem and demographics issues. It's heyday was 2007.

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> destroyed by an evil government, just for cheap, shoddily made goods

This attitude is why China managed to get itself out of poverty while other countries don't seem to get anywhere. While you may think phones made in China are cheap, shoddily made goods, guess what, there are billions of people in this world who don't have the financial resources of the 300M Americans to afford an iPhone.

The American model is to have a company create an amazing product at a very high cost (iPhone, Tesla) and have it "trickle down". What ends up happening are these companies monopolize the market, force everyone onto their ecosystem, and extract as much money as possible. Things do progress, but everyone gets locked into a system, and the company lacks incentive to keep innovating.

In China, they create cheap products, but in a few years, every single person has a smartphone. The technology is democratized and because of that, new technology can be built off that initial platform - now they are by far way ahead in things like fintech. Who cares if the product was initially cheap and shoddily made when the people there are upgrading their devices every year. The "cheap" device maker Xiaomi dropped to fourth place in China because consumers demanded more and more high end products. Within the space of a few years, the Chinese phone makers are making quality phones.

>>and supports an evil regime in north korea

For what it's worth, the only reason China "supports" North Korea is because they don't want to deal with the massive influx of refugees that would result from that regime's collapse.

If you think about the strain that a few million Syrian refugees are putting on Europe, you can hardly blame China for this stance.

Make no mistake though: China has no love for North Korea. I mean who would want a crazy mad man armed to the teeth right in their backyard?

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