Read full text: https://www.lewrockwell.com/2025/02/doug-casey/how-chinas-deepseek-could-disrupt-financial-markets-and-global-stability/
Regarding China, we have to recognize that it was only in 1980 that Deng Xiaoping transformed the country from a clumsy behemoth full of ignorant peasants beating on dirt with sticks to a country as technologically advanced as the US. He didn’t do it with new government programs. He simply got the government out of the economy.
The Chinese people have made unbelievable progress in the last 40 years, and I think that’s going to continue. Unbeknownst to most people in the West, China has about six special economic zones like Guangzhou, which is right next to Hong Kong. They’re almost independent countries within China, with essentially no regulation and minimal taxes.
China has approximately four times the population of the US, and most of the students in Chinese universities take STEM courses. They take them seriously. Unlike most Americans, who tend towards soft and easy courses. Many of the kids who do take STEM courses in the US are from China, and return there. In 2020, the Chinese had 3.57 million STEM graduates, and the US had only 820,000.
Americans have accepted the silly meme “We think they work.” But the fact is that the Chinese think just as well as we do. And they work much harder; the place has become the world’s factory.
