Xi Jinping’s misguided plan to escape economic stagnation
www.economist.com
It will disappoint China’s people and anger the rest of the world

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  • SSJ2Marx
    ·
    7 months ago

    Still reading the article, just some notes off the top of my head:

    Its famously industrious workforce is shrinking,

    Chinese production is now more automated than America's

    history’s wildest property boom has turned to bust

    COVID accelerated the process of course but the five year plan accounted for this downturn because they recognize that you can only build so many planned cities and high rise apartments before you don't need any more

    and the global system of free trade that China used to get richer is disintegrating.

    China has been very deliberately cultivating an alternative economic bloc that isn't controlled by the American Navy

    • iridaniotter [she/her]
      ·
      7 months ago

      Its famously industrious workforce is shrinking,

      China has 20-30 years of an expanding, urban, highly-educated workforce. If America's government was as competent as China's, they could hope to compete in a few decades when trends reverse and that shrinking population actually starts to hurt, but since it's not...

    • Beaver [he/him]
      ·
      7 months ago

      history’s wildest property boom has turned to bust

      Western "analysts" can't comprehend the idea of pre-planning a couple decades of building ahead of the growth curve, and then winding down that building when it's no longer needed. Their heads can only imagine market based solutions, producing such highly efficient outcomes as the current housing situation in the anglosphere.