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True, but China is also at the very top of it's game, and it's success came at a rather extreme cost. Mind-boggling debt, smog in all the major cities up to LET
by candiodari 9y ago
True, but China is also at the very top of it's game, and it's success came at a rather extreme cost. Mind-boggling debt, smog in all the major cities up to LETHAL levels at times (and something like 80% of the time above cancer-in-10-years levels), no army to speak of, legendary levels of corruption (and centuries of history of corruption).
And to top it all off, China's labor market is currently the highest it'll be for the next century or so. It's all downhill from here. China's economic dominance through cheap labor is under severe threat, and they're losing. That loss is causing economic unreast (tens of millions of job losses) in the China.
China also legendary when it comes to outright lying about their accomplishments. From scientific advancements in Fusion energy to amounts of iron ore in ports, China has been caught lying so often that economists seriously think 80%-90% of government statistics are outright falsified, with often strong arguments about the remaining 10%. Unfortunately, their leadership is equally famous for believing the lies, right up to the point that they marched a fleet of ships under British cannons, with substandard hulls and without ammunition. You see, the general of that fleet had assured them the ammunition was there, several of his officers had written the central government that he was lying. Whichever was the truth, the fleet was devastated, the general survived and wasn't even fired. Thousands of soldiers and something like 40% of the total Chinese navy was lost. Legendary.
There are so many things that could go incredibly wrong here. Economists aren't kidding when they say China might start WW3. They might have to.
- Bucephalus355 9y agoThis. I mean I feel like anyone could make an awesome economy if they were given trillions and trillions of loans, told they could ignore all environmental regulations, and had, at least initially, a bottomless pool of cheap labor with no rights. Of course it looks like they’re “winning”. They will lose, and ultimately it will be a tragedy for the Chinese people when standards of living collapse and the true ability to repress people with modern technology begins to show.
- emodendroket 9y ago> This. I mean I feel like anyone could make an awesome economy if they were given trillions and trillions of loans, told they could ignore all environmental regulations, and had, at least initially, a bottomless pool of cheap labor with no rights. I mean, how is this different from the US or British Industrial Revolutions?
- intended 9y agoI've seen reports and documents, but am unable to make head or tails of it. But, extremely credible sources have indicated that 1 in 4 financial transaction takes place in China. People who have been there and work there do not doubt it. Its neighbours rue it, and its massive financial clout are allowing it to make inroads in ways and places once the realm of the US and other first world nations. That money and munition is coming from somewhere.