Core Insights - The article discusses the strategic miscalculation by the United States in allowing China to join the WTO, which inadvertently provided China with the opportunity to accelerate its economic growth and industrialization [1][9] Group 1: Economic Growth Phases - After joining the WTO, China increased its foreign exchange reserves from $200 billion to $600 billion by 2005, marking the first significant accumulation of wealth [3] - From 2005 to 2008, China's foreign exchange reserves surged from $600 billion to $1.9 trillion, driven by a sudden appreciation of the yuan and an influx of foreign investment [4] - This rapid accumulation of reserves allowed China to transform from a low-end trade economy to a global industrial powerhouse, with urbanization rates rising from 36% to 64.7% [6] Group 2: Societal Impact - The economic transformation came at a cost, with the current generation facing heavy burdens such as high mortgage debts and job insecurity, reflecting the sacrifices made for national development [8] - The article posits that if the U.S. had focused its attention on China instead of the Middle East, China's path to modernization and industrialization would have been significantly more challenging [8][9] - The narrative likens the situation to stock market investments, where individuals benefit from economic growth but also bear the risks associated with market fluctuations [9]