This article argues against the premise that the power and “deep pocket” of the Chinese state can overcome problems that the market cannot solve when left alone

This article argues against the premise that the power and “deep pocket” of the Chinese state can overcome problems that the market cannot solve when left alone, but misses the forest for the trees. Obviously China doesn't attempt this category of infrastructure projects because they have to make immediate economic sense. They tackle them for political and long term geostrategic purposes. Some side benefits are that it's cheaper than US-style global military hegemony, far more permanent, and more readily accepted by populations. For example our local project https://en.wikipedia.org/wiki/HKZMB https://en.wikipedia.org/wiki/HKZMB cost USD$18.8B which is less than twelve days of the current US military budget of USD$1.65B per day, a lot cheaper and more acceptable than invading Hong Kong and effectively the crown jewel and literal gateway to one of the most populated areas and busiest shipping lanes on the planet. Plus bragging rights. See also impressive road and rail infrastructure through Yunnan, rail to Tibet and Southeast Asia, etc.