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That makes it sound like the world being in America's pocket would have been a better outcome. America in the 21st century has been running on the fumes of its

by rchaud 2y ago

That makes it sound like the world being in America's pocket would have been a better outcome. America in the 21st century has been running on the fumes of its achievements post-WWII. China has been building entire cities' worth of infrastructure domestically and internationally, deepening trade links and political influence. America wasn't even willing to rebuild New Orleans, let alone Afghanistan and Iraq. That hasn't escaped the attention of the rest of the world. In the era following the Great Recession, it has been mired in comical levels of political disunity, where investing in public infrastructure like housing, healthcare and education is seen as a 'handout' to the 'undeserving'. In no other nation-state on earth would somebody like Musk be provided with taxpayer funds to derail plans for high-speed trains by pursuing a non-working vanity project that appeared to be inspired by a Simpsons episode about a charismatic charlatan.

JumpCrisscross 2y ago
> In no other nation-state on earth would somebody like Musk be provided with taxpayer funds to derail plans for high-speed trains by pursuing a non-working vanity project With you until this. China has built its fair share of nonsense vanity infrastructure to the point of entire cities. The difference isn’t the tendency to fever dream. It’s that China actually gets around to the building of it. Both in controlling its billionaires and suppressing NIMBYism, its model looks like an attractive one for developing countries to replicate (versus the American or European models).
- rchaud 2y ago
  Over-construction is not uncommon during boom times. It's not a problem either: the buildings may be empty temporarily, but once prices adjust, they will be occupied and in use. China needs new cities to distribute their population more evenly geographically, so some level of over-capacity is planned for. Contrast that to the US, where housing economics are completely messed up due to zoning restrictions, Airbnb-only properties, immigration crackdowns causing labour shortages, and a system that allows cash-rich investment funds to hoard large amount of the supply.
  - JumpCrisscross 2y ago
    > the buildings may be empty temporarily, but once prices adjust, they will be occupied and in use With what population? Like, there is a reason these structures are being left unfinished: they were never smart to have started. > zoning restrictions, Airbnb-only properties, immigration crackdowns causing labour shortages China is heavily zoned, has a prominent issue in its cities with the rich “hoarding” property as investment, and is notoriously immigrant unfriendly. (We haven’t even gotten to hukou.) China’s system excels in one respect when it comes to housing and construction: efficient use of public lands and eminent domain to overcome NIMBYism. > cash-rich investment funds to hoard large amount of the supply By which “large” means considerably less than 1% [1]. You have a good argument. It doesn’t need hyperbole or falsehoods. [1] https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/ https://www.housingwire.com/articles/no-wall-street-investor...
  - robocat 2y ago
    It isn't sensible to project your personal intuitions about the US onto China. China keeps surprising us (in different directions). > the buildings may be empty temporarily If they are quality buildings in a useful location then they might become useful.

by rchaud 2y ago

JumpCrisscross 2y ago

> In no other nation-state on earth would somebody like Musk be provided with taxpayer funds to derail plans for high-speed trains by pursuing a non-working vanity project With you until this. China has built its fair share of nonsense vanity infrastructure to the point of entire cities. The difference isn’t the tendency to fever dream. It’s that China actually gets around to the building of it. Both in controlling its billionaires and suppressing NIMBYism, its model looks like an attractive one for developing countries to replicate (versus the American or European models).

rchaud 2y ago
Over-construction is not uncommon during boom times. It's not a problem either: the buildings may be empty temporarily, but once prices adjust, they will be occupied and in use. China needs new cities to distribute their population more evenly geographically, so some level of over-capacity is planned for. Contrast that to the US, where housing economics are completely messed up due to zoning restrictions, Airbnb-only properties, immigration crackdowns causing labour shortages, and a system that allows cash-rich investment funds to hoard large amount of the supply.
- JumpCrisscross 2y ago
  > the buildings may be empty temporarily, but once prices adjust, they will be occupied and in use With what population? Like, there is a reason these structures are being left unfinished: they were never smart to have started. > zoning restrictions, Airbnb-only properties, immigration crackdowns causing labour shortages China is heavily zoned, has a prominent issue in its cities with the rich “hoarding” property as investment, and is notoriously immigrant unfriendly. (We haven’t even gotten to hukou.) China’s system excels in one respect when it comes to housing and construction: efficient use of public lands and eminent domain to overcome NIMBYism. > cash-rich investment funds to hoard large amount of the supply By which “large” means considerably less than 1% [1]. You have a good argument. It doesn’t need hyperbole or falsehoods. [1] https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/ https://www.housingwire.com/articles/no-wall-street-investor...
- robocat 2y ago
  It isn't sensible to project your personal intuitions about the US onto China. China keeps surprising us (in different directions). > the buildings may be empty temporarily If they are quality buildings in a useful location then they might become useful.