I do not understand that. China has all kinds of mineral wealth and natural resources. From my point of view, all China needs to grow is to remove the shackles of Communism and encourage entrepreneurship; with the overbearing government out of the way, China could grow. Unless a country is trading for materials it cannot produce, there is no reason to depend on trade.
A major factor in the change in China between Mao and Xi is in fact entrapranurial growth. Private family businesses both new and grown from scratch are in fact a significant part of the present economy.
I refer to them as Chicaps. They are I believe a force within China to influence the Chicoms to reach some agreement with the USA
If you doubt me, go to Ebay and look for all kinds of stuff. It will be available cheap shipped by very small companies that are using basic entrapranurial skills learned to sell on the internet. That process involves not only having a product to sell but to develop the banking capability to easily and seamlessly complete the international transaction.
I know it is fashionable to be critical of Chicoms and I am in agreement. But it must be realized that there are business forces at work in China that aate seemingly very American. Then, there in Hong Kong, they are waving American stars and stripes.
Then there is Alibaba. Alibaba is a China compny that grew from very humble beginnings to make the largest public offering ever on the New York Stock Exchange.
In America, we had Thomas Register that was 12 or so thick green volumes containing virtually all the makers of all the products manufactured in America. Alibaba transferred that listing of China made products to the internet allowing a vast new capability for Chinese purchasing agents.
I believe there is in fact change in process. President Trump realizes there are young Chinese men and women at odds with the old men who would like them to lighten up a little more
I observe and make a finding