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Also, China gets things done incredibly quickly when state motivation aligns with technology. See: three gorges dam, national fiber optic network, mobile covera
by contingencies 6y ago
Also, China gets things done incredibly quickly when state motivation aligns with technology. See: three gorges dam, national fiber optic network, mobile coverage, HK-Zhuhai-Macau bridge, 100% contactless mobile payment and instant messaging penetration, high speed trains, electric vehicles, etc. All of these examples are from the last 20 years.
- jacquesm 6y agoThat's just about the only advantage a planned economy has: reaction speed. All it takes is one decision to mobilize massive resources.
- contingencies 6y agoI would restate that as a more general advantage, possibly only when operating at China's immense scale: relative cognitive freedom in creating solutions due to a broader pool of options. Because the sum total of available regulatory, fiscal, environmental and other resources necessarily exceed that of private actors, courses of action that would be untenable in other systems or require difficult and expensive public-private-partnerships are certainly feasible. This is why, for example, the 'super app' did not emerge in a western economy and China is one of the only countries improving its forest cover.