US Vs China Economics
The United States and China operate by two different forms of government. The US, quite likely because of its origins from Europe, has a government structure that gives most of the power of control to its investors and business owners. This makes it quite easy for individuals with the necessary capital to dominate any market of their choosing. China, on the other hand, is majority state owned and run, individuals having very limited capability to engage in personal entrepreneurial activities. This makes for an efficient system since the government can always step in and fix aspects that are unsatisfactory.
Benefits of a government centralized economy
In China, the government regulates just about every aspect of everyday life, whereas in the US, if you have the money, you can do anything you please, and many wealthy businessmen do just that. AS a result, many products unique to the US carry hefty prices, since each investor can basically decide for themselves the profits they should make, which in turn, can affect the material cost for any creation, further promoting high prices. In china, the central government manages every aspect of business which makes it easier to control costs and methodologies, making for a highly efficient system.
Advantages of an investor controlled economy
In the US, any person with enough money can make their dreams come true. As a result, the US has made many significant contributions to technology and various major industries around the world. Because of its profit driven economy, many great ideas and innovations are made and many intellects, scientists and inventors migrate to this country in hope of making their big break. This helps to enrich the intellectual resources of the country making way for faster and more frequent scientific advancements, which we can observe today as the Us is no doubt leading the world in technology.
There are benefits to both types of governance and it may prove beneficial to any country or government to adopt the good aspects of theses systems while eliminating the negatives. It may never be possible to make everyone in the world completely happy, or every economy completely stable, however, there are enough resources on the planet to ensure that everyone can live a fulfilling life. These two countries are perfect examples of entirely different systems accomplishing their individual goals so we should be more careful when designating the brand of immoral or wrong on any single system.