Certain countries need a dictator. In Tanzania the president is very strict but the economy is going up and the corruption is going down. Because he’s tough. Infrastructure is gaining momentum and people are scared to do bad stuff.Previously, citizens didn’t want to pay taxes and now they do. New leadership forces people to pay taxes and citizens don’t like him. They say that if we start right now to start a new civilization up in Mars, we’ll still be years behind China. But in the long run, we’ll be ahead of china. Because China doesn’t have the diversification of thoughts and freedom of innovation. 5G just started in China but it’s not the best. They still have a lot of issues. When we come up with new inventions here we have to make sure it’s 100 percent perfect before we sent it out into the market. China duplicates and take ideas from Europe and US. US are taking the ideas of China in regards to 5G. Did China take the idea of 5G from another country?
Some devices that China has we don’t have it here. They create, they design and implement into their everyday lives. Just like WeChat, nobody uses cash over there anymore. They only use WeChat to pay for everything. It’s like ApplePay on steroids. When you go on your phone to pay for something. But, it’s because every single business that accepts payment in China have the technology to accept mobile payments. And that’s probably the minimum standard of a business, they HAVE to accept WeChat as a form of payment. And that is technology that we don’t have, there are a lot of stores that only accept cash. If you go to those flea markets, they only accept cash. But if there is a flea market in China they all accept WeChat payments. Americans believe in freedom and have the option of using the Dollar exclusively or integrate with other payment methods. Some Americans don’t believe in having bank accounts and allowing the big banks and government access to their money. They like to live “under the radar”. Just like in the 2008 financial crisis where many Americans lost their life savings because they had their earnings in a bank account where the banks went bankrupt. Also in some nonmoral sense, some small business owners prefer an all cash business so not to report certain things to the IRS. They don’t want to be tracked or controlled by the government. In contrast, China doesn’t have any well known monopolies like in the US and the Chinese government completely controls the usage and monitoring in WeChat. Everything goes back to the government.
If the president of China force everyone to use Facebook everyone will sign up for it. Now they say No Facebook. Probably they have their own social media l ike Facebook. But if they allow for Facebook to be used, the Facebook server will go down.
In some fields it is good for the government to intervene, but in other areas, the government should have no place meddling. In China, for example, the currency exchange is regulated by the government. In the United States, in big cities like NYC you can see currency exchanges in every corner. In Tanzania, it used to be in every corner, but people started using USD instead of the Tanzanian shillings. Some business and bank accounts were able to accept USD. Then the government decided they didn’t want the USD in their economies and they want the TSh to build value. So the government closed down all individual currency exchange businesses. So they took over and said there would only be a few currency exchange places and be controlled by the government. The only reason they want to control that market is because of the value of the Shillings depreciated greatly. If people were preferring the USD versus the Shillings in Tanzania, then that would become the primary currency of the country. People look at the Hollywood movies and see the dollar bills flashing and want to be like the people in the movies and videos. In order to carry 5 USD in TSh, you have to carry a lot of Shillings. Imagine you have a 100 USD it’s a lot of Shillings. Almost 250,000 TSh. To carry that amount around with you is dangerous, having to deposit some into your safe before leaving the house, lowering the amount of money you carry and thus lowering your spending amount. In contrast, imagine just carrying one bill for that same 100 USD amount. It’s a lot easier to carry USD. Something has to happen to pick up the value of the currency. What exactly will help increase the TSh’s value?
People in Zimbabwe go with a wheel barrow full of money to the market, to exchange it! Video 9:50