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The older generation made huge sacrifices with no wage growth because the CCP kept the currency low. This allowed for China to choose industries it would domin

The older generation made huge sacrifices with no wage growth because the CCP kept the currency low. This allowed for China to choose industries it would dominate outside of economic forces. It chose to dominate solar and was allowed to sell panels below raw materials cost in order to kill competition. In one hand it’s good for world solar, on the other hand this has helped cause the rise of the far right all over the west.

stickfigure 1y ago
> The older generation made huge sacrifices with no wage growth ...and poured their savings into the sole investment available, real estate, creating the largest bubble the world has ever seen...
- chrismsimpson 1y ago
  AI: hold my beer
  - bobthepanda 1y ago
    Real estate was at one point 25-30% of Chinese GDP. AI is not anywhere close, at least not yet.
    - teiferer 1y ago
      Just Nvidia has a larger market cap than all German public companies combined. Just Nvidia.
      - jimnotgym 1y ago
        But much less revenue I suspect? Looks like a bubble, smells like a bubble, it's a bubble