My impression has been that this looks simply like the result of an extemely rapidly changing economy and economic framework and government. The rules change fr

My impression has been that this looks simply like the result of an extemely rapidly changing economy and economic framework and government. The rules change frequently. In an ad-hoc manner. Even when it seems there are a lot of people working behind all these rule changes - both on the theory and the applicability. So yes of course there is a lot of waste and randomly propped up systems and temporary fixes. And then that's even if we want to argue that say US systems are really built for the long term... which is problematic also with a total willingness to change the rules from one day to the next but nowhere near to the level of China. Good luck running long term businesses (but some people seem to manage pretty well - survivor bias?) and long term personal or family investments (scary just a bit? - I mean beyond US-style investing?)