companero [he/him]

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Joined 4 years ago
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Cake day: July 26th, 2020

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  • companero [he/him]@hexbear.nettoWorld News@lemmy.mlChina is bad
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    1 year ago

    Ignoring the obvious bias of the author, I will address some points:

    In spite of its unequivocal accomplishments and successes, China has, during the past decade or more, spawned a mountain of bad debt, unprofitable and uncommercial infrastructure and real estate, empty apartment blocks and little-used apartments and transport facilities, and excess capacity in, for example, coal, steel, solar panels and electric vehicles.

    The author fails to see the bigger picture. Empty houses built when labor is plentiful become occupied eventually. See Pudong, once a “ghost city”, now has a population of 5 million. Infrastructure which doesn’t directly pay for itself does so indirectly. It should be obvious that extra capacity in solar panels and electric vehicles has potential to be a very good thing.

    China’s leaders have been vocal this year about strengthening consumption and about improving the business environment for private firms and entrepreneurs, who have been pressured or punished to align their commercial interest with the party’s political goals.

    Oh no, how dare the government force their interests on the poor businesses.