Lol. You Sino fanboys really need to take a look at their sovereign debt ratios. China's in serious trouble.
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Makes China out to be a glorified technocratic ponzi scheme. Malinvestment is still just that, whether spent on infrastructure or welfare.
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If you think Chinese transport infrastructure spending is "malinvestment" you've been deluded by ideology. It's a model of the opposite.
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"It's coming down any day now!" (Right after the Saxon awakes.)
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le kek However, on that Unz article's frequent use of feel-good language for anti-incentives: "Journalist. Kill on sight."
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I hate to "ackshually" this, but the standard wisdom is largely on par with your predictions re: China.
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That's not my impression.
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