By Kenneth Rapoza, Industry Analyst for the Coalition for a Prosperous America
This year marks the 100th year
anniversary of the founding of the Chinese Communist Party. Born out of a
revolutionary ideology geared toward overthrowing what many saw as a corrupt
ruling class, China's communists took over, sent the remaining power structure
to Taiwan, and then oversaw an economy that went from a dollar a day to the
world’s no. two economic power. We all know it now. Gone are the days of China
making your Happy Meal toys. They're in your closet and on your phone. But how
did they get there in roughly 50 years' time? China has a bigger presence in
all of our lives than the old powers of Europe. More American businesses have
their fortunes tied to China than they do France. More Americans have Chinese
apps on their phones than German apps. What's the power behind it all? [more...]
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