In Which I Say Something Nice about Globalization
It’s still not “free trade” in a sense anyone but the self-delusional Greg Mankiw could describe it, but there are some gains accruing to China.
As the Chinese economy moves from agriculture to producing more goods and services, two things have happened. Energy demand has gone up:
And people have been able to afford services they could not before:
It’s not much, but it’s a start, and we would be disingenuous to deny that.
(All data from the World Bank)