2. Producers charge low in competition, the reason we are based on consumption so heavily is due to Keynesian theory of economics, basically progressive economic theory. The idea that a central banking authority needs the power to implement policy to increase consumption. This is only possible through central banking a socialist idea. Yet free marketism glorifies savings and even hayak creating a privatized banking system to induce savings rather then spending
3. When that happens humanity will reallocate itself to a more purposeful use
4. Chinese government directly controls their central bank, making it completely planned, as well as uses economic policy to impose massive merchantilist trade policies, which literally means it's centrally planned... Smart guy
5. Capitalism thrives on privatized exchange of capital, not poverty. Capitalism creates the most stable efficient system, communism can not work, simply because a communist society has no way to calculate when to expand production or reduce production. In fact the fact that communism is incapable of this proves that everyone will succumb to poor impoverished conditions and would completely fail unless there was a state or authority dictating production, which is why Stalinism was effective in production, because it was through force.
6. We are not discussing min. Wage or even income inequality idk why you brought this issue up, however you need to study inter generational income mobility if you wish to discuss classes movement along lines of personal wealth in terms of inequality. You'll find it quite amusing when you see statistics of similar countries with factors like GDP size, population, level of immigration. You'll find income mobility tends to happen more efficiently in a freer market
7. This is because the other countries use central planning authority to do things like devalue currency and use trade protectionism to try to outcompete other nations. You Blame the free market for government policy...