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China is largely a success story for foreign investment. Its prowess is almost entirely borrowed/extorted/stolen with little to no domestic expertise. I don’t m
by fnordpiglet 3y ago
China is largely a success story for foreign investment. Its prowess is almost entirely borrowed/extorted/stolen with little to no domestic expertise. I don’t mean this out of spite, but the best and brightest of China have left and leave. Very few repatriate and with the current climate that’s not reversing it’s accelerating. Most of the high tech in China is actually western, Japanese, Korean, or Taiwanese expertise and built staffed with Chinese labor. It’s certainly true their infrastructure as far as rail goes and other mass investment is top notch, but it’s not very productive. It’s also incomparable to compare China, which has only recently developed its infrastructure, to nations who have been building their modern infrastructure for over a hundred years. Legacy can weigh anyone down in so far as adoption. But last time I checked you don’t find self driving cars tooling the streets of China, all their top fabrication equipment is imported, and all of their official statistics of growth etc are almost entirely fabricated to the extent it’s unknowable how progressed they are other than it’s not as much as they claim.
The flight of foreign investment out of China is going to be sobering as it accelerates faster and faster. The Silk Road projects are bankrupt, the real estate bubble is finally popping, etc. My real worry is the upcoming instability leads to military adventurism.