>>>So, in an effort to boost literacy, the People's Republic of China attempted to make learning characters easier through a series of simplification rounds that took place between the 1950s and 1970s<<<
The fact is that people in Hong Kong and Taiwan have a much higher literacy rate than those in mainland China, yet they use Traditional Chinese. Mainlanders' low literacy rate is mainly a sign of lacking education, not Traditional Chinese being a barrier to literacy. Moreover, in a digital world, they make no difference in input speed.
What Hong-Kongers and Taiwanese are opposing to is not the communist simplifying Chinese Characters, but simplifying them in an ugly fashion. In most cases, it breaks the consistency in word formation as seen in Traditional Chinese. In other cases, it's not aesthetic and even absurd. There is a joke saying that the word factory(廠)in simplified Chinese (厂) explains why factories in mainland China are subject to collapse.
Speaking of economics, simplified Chinese indeed appeals to larger potential customers. However, PRC put lots of restrictions on foreign corporations. That's why even Google and Facebook failed to (and will continue to) dominate in China. On the other side, Hong Kong and Taiwan have the goodies of free markets.