Both China and USA are planning to mine space. Its a good thing in one way. We humans are been restricted just to Earth for so long time. In recent years, due to pioneering efforts of Soviet Engineers we were introduced to space and they showed us how to live there.
Space has been an expensive affair. Yes there have been positive returns like satellites connecting us for communication between countries and continents. They provide us a way to map and scan the globe, provide us with navigation aids like GPS and IRNSS, but we have put more material into space than we got back to Earth. We can possibly start to reverse it if we could mine Space.
Now there are serious thoughts about getting asteroids in our space to orbit Earth and to mine them for their content. Its an excellent thought, but it has to be regulated. Say for instance China has got an huge asteroid, the size of a ship orbiting our Earth, India launches a strike on Pakistan’s terror camp, China being a friend of Pakistan can threaten to deorbit an space rock so that it would destroy an Indian city.
Space is an valuable and infinite resource. But due to power imbalances on this planet, we may not be able to mine it properly. For example if USA mines it, the media will portray as a good thing. If North Korea mines it, it will be portrayed as a evil one.
There must be some arrangement that ensures that space mining profits reaches to all citizens on this planet, as we all own space equally. Else oligarchy will use it more to enslave groups of people and to start wars.