April 11, 2025 - Epoch Times
01:24
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| Time | Text |
|---|---|
| China is really an incredibly bifurcated country. | |
| If you go to the big cities like Beijing, Shenzhen, Shanghai, it really is almost like living in a Star Wars type universe. | |
| There's robots, there's pretty much every luxury. | |
| um that you would have in any in any big city and if you were to go an hour outside into the country it's it's depending on where you go out into the countryside um 19th uh 19th century housing and donkey carts and everything And what will happen is that the education level is much, | |
| much lower. | |
| The human capital level is much, much lower. | |
| There's an economist at Stanford who has done mountains of work on this issue. | |
| The differences between the urban and rural dwellers is really quite stark. | |
| And the reason that this matters is that the Chinese... | |
| economy and especially the chinese export economy is still heavily heavily focused on that low skill low wage labor and they will typically have entire factory towns where they live in dorms and they will stack them four high in a room things of that nature and so this is why you know when people talk about what would it take for the chinese economy to not run those those trade surpluses The answer is very simple. |
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