Three resources of fueling Chinese GDP growth are running out
Ping Chen, the Chairman of iSunTV has an intriguing point about the Chinese regime. He postulates that the regime is running out of three resources that have supported the fast growth of Chinese economy (the following is my paraphrase):
- Cheap labor. It is getting harder and harder to grow cheap labor based economy without raising the living standard of workers hence the cost of labor.
- Environment. The environment has been damaged by the GDP growth centered economy to a degree that further deterioration will cause human disasters.
- Domestic natural resources. Domestic natural resources are being exhausted. Dependence on foreign natural resources grows rapidly.