That's the standard wisdom, sure.http://www.unz.com/article/chinas-financial-debt-everything-you-know-is-wrong/ …
-
-
Replying to @Outsideness @rec0nciler and
Makes China out to be a glorified technocratic ponzi scheme. Malinvestment is still just that, whether spent on infrastructure or welfare.
1 reply 0 retweets 1 like -
Replying to @mfckr_ @rec0nciler and
If you think Chinese transport infrastructure spending is "malinvestment" you've been deluded by ideology. It's a model of the opposite.
1 reply 0 retweets 1 like -
Replying to @Outsideness @rec0nciler and
Of which we have no way of adjudicating how much was needed or wanted by those living there. And how much was pretense for govt gibs.
2 replies 0 retweets 4 likes -
Replying to @mfckr_ @rec0nciler and
Those two options draw the worst Venn diagram ever. An extraordinary development process has been catalyzed by this spending.
1 reply 0 retweets 2 likes -
Replying to @Outsideness @rec0nciler and
Does everyone sleep through the lecture on opportunity cost yet pretend to be 'capitalist', or what?
1 reply 1 retweet 4 likes -
Replying to @mfckr_ @rec0nciler and
In the real world, if you leave assets on the table the government will blow them on something REALLY stupid (like welfare systems).
1 reply 2 retweets 9 likes -
Replying to @Outsideness @rec0nciler and
Or blow them on "muh extraordinary infrastructure". Nevermind the lost entrepreneurial potential that may've yielded superior outcomes.
2 replies 0 retweets 5 likes -
Replying to @mfckr_ @Outsideness and
All of this becomes even funnier when you take into account the fact that China and it's successive millennium old bureaucratic empires,
2 replies 0 retweets 3 likes -
always loved huge cumbersome infrastructure projects that where hardly ever useful.pic.twitter.com/e4lxaYHCkQ
2 replies 0 retweets 4 likes
Oh c'mon -- this is like the Chinese metro and high-speed rail networks how? (With the space program I'd just about grant vague analogy.)
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.