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It's more effective at depressing wages and at shovelling other people's money at whoever the politicians want to win. They are also much better at hiding debt
by peterfirefly 9mo ago
It's more effective at depressing wages and at shovelling other people's money at whoever the politicians want to win. They are also much better at hiding debt -- in manufacturing companies, in banks, and in provincial governments. A lot of their successes lose money but they are awesome at hiding it and they might well outcompete Western companies and thereby cause a lot of harm.
- tacticus 9mo ago> They are also much better at hiding debt Through bonds? or SVPs to fund the building of datacentres?
- pm90 8mo agoWhat do you mean “hiding it”? Are you suggesting Chinas manufacturing capacity is entirely fraudulent or cooking the books? Or that the state is providing subsidies? Because if its the latter… have you seen the brouhaha over Amazon HQ2? Or seen the number of tax credits/incentives doled out by US cities to companies that “promise” jobs but don’t even deliver them? (but keep their subsidies).