China’s industries were like that too. But their private sector is more nuanced and the government will actually take steps to force them to stop fucking around (even if they don’t seize it), while in the west you can lost $5 billion in some monkey crypto elon mungus kkkoin and it’s just called a free market risk
Westerners are so used to the unorganized, inept privatized sectors slowly milking the money out of the system and only producing slow results.
China’s industries were like that too. But their private sector is more nuanced and the government will actually take steps to force them to stop fucking around (even if they don’t seize it), while in the west you can lost $5 billion in some monkey crypto elon mungus kkkoin and it’s just called a free market risk