> One of the fundamental equations of macroeconomics: savings == investment That's not a "fundamental equation", that's merely the hope savers have. Sometimes

> One of the fundamental equations of macroeconomics: savings == investment That's not a "fundamental equation", that's merely the hope savers have. Sometimes the hope turns out to be futile and you get bank runs or financial crises. Chinese investments aren't investments as would be understood in a free system. They have private investors, but when the government subsidizes industries they're force feeding money to things private investors passed up (or they rig the market so private investors pile in even though it doesn't make sense to do so absent the manipulations). Think about it like this: imagine the government stole your savings and then gave it all to Sam Altman to spend on OpenAI. You might object on several grounds: 1. It's morally wrong to steal people's money. 2. OpenAI probably isn't a viable business. 3. OpenAI will use those savings to give random strangers free chats. 4. If OpenAI implodes or becomes a zombie firm that makes losses forever, the government won't hold itself accountable. 5. In the likely event of negative RoI you won't have any ability to retire anymore. It's obvious why this scheme is bad and why people who actually do understand economics want governments to stay well away from "investments" of any kind.