So China’s mix of free market economics and state control isn’t working out so well after all. Shocked, I tell you…shocked!
The reality is this: China’s economic stature is overrated. Despite heavy investments in technology, its economy suffers from a persistent productivity problem. Its exports are still centered around low- to mid-value goods, and its much-hyped artificial intelligence (AI) sector is more about state direction than spontaneous innovation.
Much of China’s R&D spending is directed by the state or influenced by political incentives. State-owned or state-affiliated enterprises are often the biggest recipients of funding, which leads to inefficiencies and duplication. Instead of fostering open competition and entrepreneurial experimentation, the system favors companies with political connections and access to subsidies.
And they’ve got 80,000,000 empty residences.
That’s not a little boo boo.
Let’s send our homeless to China! Win-win!
Why aren’t the ChiCom’s importing 1M M&M’s (Mostly Muslims) into their country like Canada is doing? They have the empty housing. They have a negative population growth rate.
Yeah, it appears likely that China will be the last nation standing against the worldwide scourge of radical, murderous, unlawful, Islam.
They’ve got their own supply in XinJiang, no need to import. Last I heard they had -millions- of them locked up in prison farms, prison factories, etc.
” … the system favors companies with political connections and access to subsidies.”
Sure glad it’s not like that here in North America, eh?
So if the Chinese and their society is so decrepit, How are they able to build 43K miles of high speed rail, while the rest of the world struggles, building a few 1000 miles? Is their any high speed rail in North America, other than the soon to be boondoggles of Newsom and Trudeau?
Because they don’t pay fair market value for rail right of way. It sure is easy to build when none of the people in the way have property rights. Drive the rail line right through the middle of a village that’s been there a thousand years? No problem! Get the bulldozer wiggling and plow over those houses.
Also because all their train technology is stolen from Japan and Europe, no royalties of course. R&D is much, much cheaper when you steal it.
Oh, and those trains seem to have a lot of safety issues, like derailing at 100mph which we don’t often hear about because they cover it up. Also train bridges falling down because the rebar is plastic and the concrete is made with ocean sand…
Then there’s the time a whole train full of people got drowned in a tunnel because it rained…
Also, I have a car. I don’t need high-speed rail.
Brightline seems to be working on it, but it’s not a big government project, so you don’t hear much about it.
I’ve edited a lot of research papers from China. It’s all competent — they know how to play the game — but almost never radical or outstanding. “Good enough to get published” is the rule.
This suggests a people who know how to go through the motions, but are reluctant to think expansively. They stay within the ropes.
Given that the government keeps a file on every citizen, and doles out rights based on the content of that file, I’m not sure I blame them.
Research papers from China, you say?
“China’s economic stature is overrated… this isn’t about underestimating China, it’s about seeing the real constraints it faces in becoming a world-class innovator.”
Becoming a “world-class innovator” doesn’t factor in for a tyranny which is currently taking over the world, and the only “real constraints” to prevent it is nothing less than unconditional surrender, which is not on the horizon.
Economic constraints didn’t prevent the USSR from successfully spreading their ideological cancer throughout all the worlds governments either. Going bankrupt prevented them from God knows what, but it wasn’t a sure thing.
Mr Matthews column has much good information collected in one article but his conclusion misses the fire-breathing dragon in the room; The problem is not that we hear very little of the western world’s efforts to counter China’s hegemonic plans, the problem is no government even wants to counter-attack, by infiltrating and sabotaging Chi-Com government, industry, culture, education, like they’re doing to ours.
China (and their proxy, Islam) like the USSR before them, is taking the fight to us.
We are not engaging them because our faux moral and intellectual superiors are on China’s side.
It may all collapse since people the world over are finally getting information, from websites like this, but not without a fight.