I find it interesting that both you and the parent poster more or less agree on the same facts, but the framing is diametrically opposed.
From my perspective globalisation is fundamentally broken. Restricting labour flow with unrestricted capital flows between countries is a destabilising force in both economics and politics.
China is also a special case as they fully understood the game that America and the West was playing and hence had a good counterstrategy. The West would promote free trade resulting in investment in developing countries. In return they open up to capital flows and their internal markets, which is what China kept resisting. With the amount of trade deficit most western countries have with China in the past 2 decades, the Chinese market should be a lot more open than it is at the moment. By delaying this the Chinese hope to avoid the middle-income trap that many developing countries fall in to under the globalisation model.
From my perspective globalisation is fundamentally broken. Restricting labour flow with unrestricted capital flows between countries is a destabilising force in both economics and politics.
China is also a special case as they fully understood the game that America and the West was playing and hence had a good counterstrategy. The West would promote free trade resulting in investment in developing countries. In return they open up to capital flows and their internal markets, which is what China kept resisting. With the amount of trade deficit most western countries have with China in the past 2 decades, the Chinese market should be a lot more open than it is at the moment. By delaying this the Chinese hope to avoid the middle-income trap that many developing countries fall in to under the globalisation model.